The Firm represented the underwriters led by Merrill Lynch, Pierce, Fenner & Smith Incorporated, Goldman, Sachs & Co. and J.P. Morgan Securities LLC in the public offering of $10 billion aggregate principal amount of debt securities of QUALCOMM Incorporated, a Delaware corporation (“Qualcomm”), consisting of $250 million aggregate principal amount of Floating Rate Notes due 2018, $250 million aggregate principal amount of Floating Rate Notes due 2020, $1.25 billion aggregate principal amount of 1.4% Notes due 2018, $1.75 billion aggregate principal amount of 2.25% Notes due 2020, $2 billion aggregate principal amount of 3% Notes due 2022, $2 billion aggregate principal amount of 3.45% Notes due 2025, $1 billion aggregate principal amount of 4.65% Notes due 2035 and $1.5 billion aggregate principal amount of 4.8% Notes due 2045. The offering closed on May 20, 2015.
Qualcomm intends to use the net proceeds of this offering for general corporate purposes, which may include funding its capital return program and acquisitions, among other uses.
Qualcomm develops and commercializes digital communication technologies called Code Division Multiple Access, Orthogonal Frequency Division Multiple Access and several other key technologies used in handsets and tablets that contribute to end-user demand. Qualcomm owns significant intellectual property applicable to these technologies, including patents, patent applications and trade secrets.
The Simpson Thacher team for the transaction included Ken Wallach, David Azarkh and Kristina Agassi (Capital Markets); Rob Holo and Jacqueline Barbera (Tax); David Teigman and Alina Grinman (ECEB); Tim Mulvihill (Environmental); Linda Nyberg (IP); and Jennie Getsin (Blue Sky/FINRA). Dennis Griffin (Corporate) also provided invaluable assistance.
Source: www.stblaw.com
