Skyworks extends Qorvo debt exchange while merger closing remains pending

Skyworks ($SWKS) extended the deadline for exchanges of Qorvo’s outstanding notes into new Skyworks debt. The offers cover up to $850 million of 2029 notes and $700 million of 2031 notes. Holders had tendered approximately 90.85% and 93.43% of the respective issues, showing substantial participation before the extension.

The company said it hopes to complete the merger within the calendar year and is preparing for an earlier closing if conditions permit, but gave no assurance that the timetable will be met. Settlement of the exchanges is tied to completion of the merger. The update concerns refinancing mechanics and timing, not a new merger agreement or confirmation that the combination has already closed. Existing valid tenders remain effective.

Sources:

• Skyworks — exchange-offer update, GlobeNewswire via StockTitan