Qorvo Amends Notes to Remove Most Covenants in Skyworks Merger Deal
On June 11, 2026, Qorvo entered supplemental indentures for its 2029 and 2031 senior notes, after receiving the consents needed to eliminate substantially all restrictive covenants, certain affirmative covenants and certain events of default. The amendments take effect only at the closing of the Skyworks mergers or upon settlement of Skyworks' exchange offers, and they end if the mergers are not completed.
Key points
- Skyworks is offering to exchange up to $850 million of Qorvo's 4.375% notes due 2029 and up to $700 million of its 3.375% notes due 2031 for new Skyworks notes.
- Qorvo received the requisite consents for both series of notes as of June 11, 2026.
- The supplemental indentures are binding now, but the amendments become operative only immediately before the Mergers or upon exchange settlement, depending on the amendment.
- The amendments will cease to be operative if the Mergers are not consummated.
The filing
Written by AI on Nov 8, 2026, 2:07 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on June 11, 2026.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.