What happened
Skyworks Solutions, Inc. (NASDAQ: SWKS) completed its exchange offers and consent solicitations on October 7, 2026 and issued new 2029 and 2031 senior notes.
The company said holders tendered $779.38 million of 2029 Qorvo Notes and $647.1 million of 2031 Qorvo Notes. Skyworks accepted those notes, which will be retired, canceled and not reissued.
The 2029 authorization was up to $850 million, and the 2031 authorization was up to $700 million. The notes were issued at 100% of principal and have minimum denominations of $2,000 and $1,000 increments.
The exchange offers expired at 5:00 p.m. New York City time on October 5, 2026, and were no longer open to participation.
Key numbers
| Metric | Latest | Change | Source |
|---|---|---|---|
| 2029 notes cap | up to $850 million | Exhibit 4.3 | |
| 2031 notes cap | up to $700 million | Exhibit 4.3 | |
| 2029 notes issued | $778.1 million | SEC 8-K | |
| 2031 notes issued | $646.8 million | SEC 8-K | |
| 2031 notes outstanding after settlement | $52.9 million | SEC 8-K |
Read more: Skyworks Solutions (SWKS) stock analysis and investment case
Why it matters
The 2031 issue closed $53.2 million below the $700 million cap, so Skyworks used most of that authorization. Both note series are senior unsecured obligations, and the filing says they are effectively subordinated to secured debt and structurally subordinated to subsidiary obligations.
Skyworks also locked in fixed coupons of 4.375% and 3.375%. The issue price was 100% of principal, so the transaction stayed close to face value. If a change of control triggers the repurchase right, holders can be offered 101% of principal plus accrued interest. Before January 1, 2031, the company may redeem the notes at the greater of a present-value formula plus 20 basis points or par.
Related: Skyworks Extends Qorvo Debt Swap With 92% of Notes Tendered
What's next
The 3.375% notes mature on April 1, 2031, and interest is payable semiannually on April 1 and October 1, beginning April 1, 2027. The 4.375% notes mature on October 15, 2029.
The January 1, 2031 par call date is another checkpoint for the 2031 notes. A timely coupon payment would support the financing step, while strain around those dates would keep the debt burden in focus.
More from OptimistFi
- SWKS stock: the Skyworks Solutions thesis, its status and the next test to watch
- United States Brent Oil Fund, LP (NYSE Arca: BNO) Tracks a Supply Gap
- Alpha Teknova, Inc. (NASDAQ: TKNO) Adds Regulatory Support for PluriFreeze
- Meta Platforms, Inc. (NASDAQ: META) Has a Conditional $18 Billion Bill
- Stock research on every company OptimistFi covers
- Latest stock research and investment-case updates
- OptimistFi: evidence-first equity research
Sources
- SEC 8-K — Reports completion of the exchange offers and issuance of the new notes.
- Exhibit 4.3 — Sets the terms of the 3.375% Senior Notes due 2031.
Read the full OptimistFi thesis on Skyworks Solutions, Inc.: https://optimistfi.com/stocks/SWKS
See what would break the Skyworks Solutions, Inc. thesis and track it live on the OptimistFi Thesis-Break Engine.
Browse every company OptimistFi covers at optimistfi.com/stocks, or read the latest evidence-first research.
The full Skyworks Solutions, Inc. investment case, its status and the next test to watch live on the Skyworks Solutions, Inc. thesis page.
Originally published on OptimistFi, evidence-first equity research. More at optimistfi.com.
