NORWOOD, Mass.--(BUSINESS WIRE)--
Analog
Devices, Inc. (NASDAQ: ADI),
a global leader in high-performance semiconductors for signal processing
applications, today announced it has priced an offering of $850 million
aggregate principal amount of 3.90% senior unsecured notes due December
15, 2025 and $400 million aggregate principal amount of 5.30% senior
unsecured notes due December 15, 2045. The offering is being conducted
pursuant to an effective registration statement under the Securities Act
of 1933.
Analog Devices intends to use approximately $378 million of the net
proceeds from this offering to fund the redemption of $375 million
aggregate principal amount of its 3.00% senior unsecured notes due 2016
on December 18, 2015, the redemption date selected by Analog Devices.
The Company intends to use the remaining net proceeds from this offering
for general corporate purposes, which may include capital expenditures,
repurchases of common stock under its stock repurchase program,
repayment or refinancing of existing indebtedness, dividend payments and
potential acquisitions. This offering is expected to close on December
14. 2015.
The joint book-running managers for the offering are J.P. Morgan
Securities LLC, Merrill Lynch, Pierce, Fenner & Smith Incorporated,
Credit Suisse Securities (USA) LLC, and Morgan Stanley & Co. LLC. The
co-managers are Deutsche Bank Securities Inc., Wells Fargo Securities,
LLC, and BNY Mellon Capital Markets, LLC.
Analog Devices, Inc. has filed a registration statement (including a
prospectus) with the SEC for the offering to which this communication
relates. Before you invest, you should read these documents and other
documents Analog Devices, Inc. has filed with the SEC for more complete
information about Analog Devices, Inc. and this offering. You may get
these documents for free by visiting EDGAR on the SEC website at www.sec.gov.
Alternatively, Analog Devices, Inc. or any underwriter or dealer
participating in the offering will arrange to send you the prospectus if
you request it by calling J.P. Morgan Securities LLC (collect) at
1-212-834-4533; Merrill Lynch, Pierce, Fenner & Smith Incorporated
toll-free at 1-800-294-1322; or Credit Suisse Securities (USA) LLC
toll-free at 1-800-221-1037.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy nor shall there be any sale of these
securities in any state in which such offer, solicitation, or sale would
be unlawful prior to registration or qualification under the securities
laws of any such state.
About Analog Devices
Analog Devices designs and manufactures semiconductor products and
solutions. We enable our customers to interpret the world around us by
intelligently bridging the physical and digital with unmatched
technologies that sense, measure and connect.
This release may be deemed to contain forward-looking statements
regarding future events and our future results that are subject to the
safe harbor created under Private Securities Litigation Reform Act of
1995 and other safe harbors under the Securities Act of 1933 (the
"Securities Act") and the Securities Exchange Act of 1934 (the "Exchange
Act"). All statements other than statements of historical fact are
statements that could be deemed forward-looking statements, including
statements relating to the offering of the notes and the use of proceeds
therefrom. These statements are based on current expectations,
estimates, forecasts, and projections about the industries in which we
operate and the beliefs and assumptions of our management. You are
cautioned that these forward-looking statements are only predictions and
are subject to risks, uncertainties and assumptions that are difficult
to predict. You should pay particular attention to the important risk
factors and cautionary statements referenced in the "Risk Factors"
section of the prospectus related to the offering referenced above, as
well as the risk factors and cautionary statements described in the
other documents we file from time to time with the SEC, specifically our
Annual Report on Form 10-K, our Quarterly Reports on Form 10-Q and our
Current Reports on Form 8-K. Actual results may differ materially and
adversely from those expressed in any forward-looking statements. We
undertake no obligation to revise or update any forward-looking
statements, except to the extent required by law.
View source version on businesswire.com: http://www.businesswire.com/news/home/20151203006347/en/
Analog Devices, Inc.
Ali Husain, 781-461-3282
Treasurer and
Director of Investor Relations
investor.relations@analog.com
781-461-3491
(fax)
Source: Analog Devices, Inc.
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