Marvell Technology Announces Completion of $1B Senior Notes Offering and Revolving Credit Agreement

Details

completed a public offering of $500M of 4.750% Senior Notes due 2030 and $500M of 5.450% Senior Notes due 2035, bringing the total proceeds to approximately $992.3M after deducting underwriters' discounts. The proceeds will be used for debt repayment, working capital, capital expenditures, and potential stock repurchases or acquisitions. Additionally, the company entered into a Second Amended and Restated Revolving Credit Agreement, providing for up to $1.5B in revolving loans for general corporate purposes.

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About Marvell Technology, Inc.

Marvell Technology, Inc. is a semiconductor company that develops and supplies a broad array of comprehensive solutions for data infrastructure. The primary purpose of Marvell Technology is to provide innovative silicon and software infrastructure solutions bridging the data center, enterprise networking, carrier infrastructure, and consumer markets. The company is renowned for its expertise in data processing and storage, offering high speed connectivity products and custom ASIC solutions. Marvell's product portfolio significantly impacts sectors such as cloud services, automotive, and industrial applications, contributing to advancements in storage, networking, and connectivity. Established in 1995, Marvell has been pivotal in enhancing the speed and efficiency of data transfer, which is crucial in handling large amounts of data generated across various applications. The company's ability to innovate continually within its field of semiconductor solutions positions it as a key player in driving growth and evolution within the technology industry. By collaborating with leading technology firms and continuously integrating advanced technologies, Marvell plays a critical role in supporting global connectivity and data management.