Analysis
Analog Devices Announces Offering of Senior Notes
Analog Devices today announced that it intends to offer approximately $500 million aggregate principal amount of senior unsecured notes due 2023. Analog Devices intends to use a portion of the net proceeds from this offering to fund the redemption of its 5.00% senior unsecured notes due 2014.
The Analog Devices intends to use the remaining net proceeds for general corporate purposes, which may include repurchases of common stock under its stock repurchase program, acquisitions, dividend payments and capital expenditures.
The joint book-running managers for the offering are J.P. Morgan Securities LLC, Credit Suisse Securities LLC and Merrill Lynch, Pierce, Fenner & Smith Incorporated.
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