{
  "dataset_id": "broadcom-financing-objects-2026-10-10",
  "reviewed_on": "2026-10-10",
  "scope": "Selected dated financial objects and unresolved relationships. This is not an executed October financing waterfall or a current funded-cash ledger.",
  "sources": [
    {
      "id": "AVGO-Q3",
      "kind": "issuer_filing",
      "published_on": "2026-09-10",
      "report_period": "2026-08-02",
      "url": "https://www.sec.gov/Archives/edgar/data/1730168/000173016826000080/avgo-20260802.htm",
      "locator": "Note 10 / Financial Guarantee and Convertible Notes",
      "full_text_reviewed": true
    },
    {
      "id": "REUTERS-OCT1",
      "kind": "original_reporting_syndicated",
      "published_on": "2026-10-01",
      "url": "https://www.investing.com/news/stock-market-news/exclusivebroadcom-to-lendanthropic-up-to-42-billion-to-lease-its-chips-filing-says-4926853",
      "underlying_nonpublic_prospectus_obtained": false,
      "full_article_reviewed": true
    },
    {
      "id": "BLOOMBERG-OCT2",
      "kind": "original_reporting_syndicated",
      "published_on": "2026-10-02",
      "url": "https://au.finance.yahoo.com/news/broadcom-starts-amassing-60-billion-041233805.html",
      "authors": [
        "Preeti Singh",
        "Dina Bass"
      ],
      "full_article_reviewed_in_browser": true,
      "scope_note": "This reviewed syndicated copy confirms tranche sizes and reported syndication preparations. It does not establish a guarantee contract for Class A."
    },
    {
      "id": "APOLLO-JUNE9",
      "kind": "capital_provider_announcement",
      "published_on": "2026-06-09",
      "url": "https://www.apollo.com/insights-news/pressreleases/2026/06/apollo-leads-35-billion-capital-solution-for-broadcom-ai-xpv-platform-in-partnership-with-blackstone-and-leading-global-banks-3308896",
      "full_text_reviewed": true
    },
    {
      "id": "AVGO-SUBMISSIONS",
      "kind": "issuer_filing_index",
      "checked_on": "2026-10-10",
      "url": "https://data.sec.gov/submissions/CIK0001730168.json",
      "latest_relevant_form_observed": "10-Q",
      "latest_relevant_filing_date": "2026-09-10",
      "query_scope": "Recent 10-Q, 10-K and 8-K entries since September 1, 2026. Absence of another filing does not establish absence of a private agreement."
    }
  ],
  "objects": [
    {
      "id": "customer-note-cap",
      "source_ids": [
        "AVGO-Q3",
        "REUTERS-OCT1"
      ],
      "amount_usd": 42000000000,
      "amount_role": "conditional_aggregate_customer_note_principal_ceiling",
      "issuer_in_filing": "unnamed customer",
      "initial_recipient_in_filing": "Broadcom",
      "customer_attribution_in_reporting": "Anthropic",
      "historical_notes_issued_to_broadcom_usd": 0,
      "historical_zero_as_of": "2026-08-02",
      "current_notes_issued_usd": null,
      "current_funded_cash_usd": null,
      "use_restriction": "Notes or proceeds, if any, solely for customer lease obligations",
      "reporting_financing_partner_designation_possible": true,
      "not_a_current_cash_balance": true
    },
    {
      "id": "reported-class-a",
      "source_ids": [
        "BLOOMBERG-OCT2"
      ],
      "amount_usd": 42000000000,
      "amount_role": "reported_senior_secured_tranche_size",
      "parent_package_id": "reported-october-package",
      "stage_as_reported": "Banks poised to send syndication letters",
      "legal_borrower": null,
      "current_funded_cash_usd": null,
      "executed_guarantee_scope": null
    },
    {
      "id": "reported-class-b",
      "source_ids": [
        "BLOOMBERG-OCT2"
      ],
      "amount_usd": 18000000000,
      "amount_role": "reported_junior_tranche_size",
      "parent_package_id": "reported-october-package",
      "reported_blackstone_commitment_usd": 9000000000,
      "current_funded_cash_usd": null,
      "contractual_loss_priority": null
    },
    {
      "id": "reported-october-package",
      "source_ids": [
        "BLOOMBERG-OCT2"
      ],
      "amount_usd": 60000000000,
      "amount_role": "reported_package_containing_class_a_and_b",
      "stage_as_reported": "Gathering financing; transaction not announced in the report",
      "current_funded_cash_usd": null,
      "is_additional_to_its_tranches": false
    },
    {
      "id": "june-capital-solution",
      "source_ids": [
        "APOLLO-JUNE9"
      ],
      "amount_usd": 35000000000,
      "amount_role": "announced_initial_capital_solution",
      "stage": "Capital-provider description of committed capital over a multi-year draw schedule",
      "reported_primary_capital_providers": [
        "Apollo-managed funds and affiliates",
        "Blackstone",
        "global banks"
      ],
      "current_funded_cash_usd": null
    },
    {
      "id": "filed-backstop",
      "source_ids": [
        "AVGO-Q3"
      ],
      "amount_usd": 29000000000,
      "approximate": true,
      "amount_role": "maximum_potential_undiscounted_liability_after_all_applicable_racks_deployed",
      "historical_amount_paid_usd": 0,
      "historical_zero_as_of": "2026-08-02",
      "current_amount_paid_usd": null,
      "ordinary_financing_source": false,
      "scope_note": "Dated filed backstop; do not copy its formula into the reported October syndication."
    }
  ],
  "unresolved_relationships": [
    {
      "from": "customer-note-cap",
      "to": "reported-class-a",
      "relationship": null,
      "additive_cash_allowed": false,
      "reason": "Matching face amounts do not identify the legal instruments, asset pool or proceeds route."
    },
    {
      "from": "june-capital-solution",
      "to": "reported-october-package",
      "relationship": null,
      "additive_cash_allowed": false,
      "reason": "Incremental funding, refinancing, replacement or separate asset pool has not been reconciled."
    },
    {
      "from": "filed-backstop",
      "to": "reported-class-a",
      "relationship": null,
      "additive_cash_allowed": false,
      "reason": "The reviewed earlier backstop does not establish the October tranche's support contract."
    }
  ],
  "model_boundary": "The separate note-liquidity model uses fictional already-issued paper, prices, fees, rights, support and repayment terms. None are calibrated to the objects above."
}