Broadcom (AVGO) said late Wednesday its cash tender offers for several series of outstanding senior notes expired, with investors tendering about $5.5 billion in principal amount of notes.

The company said it increased the maximum amount it will spend on the buyback program to $3 billion from $2.5 billion due to the strong participation.

Broadcom said the higher cap will allow it to purchase all validly tendered 4.926% senior notes due 2037 and 4.9% senior notes due 2038, including notes submitted through guaranteed delivery procedures.

The initial settlement date is scheduled for Thursday, while notes tendered through guaranteed delivery are expected to settle on June 23, the company said.

The tender offers covered six series of Broadcom senior notes maturing between 2030 and 2038 and are part of the company's ongoing debt management efforts, it added.