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Qualcomm to exchange 4 series of notes totaling $4B

Qualcomm Inc. is offering to exchange four series of notes amounting to $4 billion, which are intended to finance its acquisition of NXP Semiconductors NV.

In a May 21 statement, Qualcomm said it remains committed to the acquisition, though it is not certain if it will be consummated by June 1.

The notes subject to the offer include $750 million in floating-rate notes due 2019, $500 million in floating-rate notes due 2020, $1.25 billion in 1.850% fixed-rate notes due 2019 and $1.5 billion in 2.100% fixed-rate notes due 2020.

The exchange offer will expire May 25. The cash settlement of the exchange offer is expected to take place May 31.