Analog Devices Announces Offering of Senior Notes
22 May 2013 - 11:00PM
Business Wire
Analog Devices, Inc. (NASDAQ: ADI), a global leader in
high-performance semiconductors for signal processing applications,
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 redemption will be separately announced by
Analog Devices.
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 (USA) LLC and Merrill
Lynch, Pierce, Fenner & Smith Incorporated.
Analog Devices has filed a registration statement on Form S-3
(including a prospectus) with the Securities and Exchange
Commission for the offering to which this communication relates.
Before you invest, you should read the prospectus in that
registration statement and the supplement thereto and the other
documents that Analog Devices has filed with the SEC for more
complete information about Analog Devices and this offering. These
documents are available at no charge by visiting EDGAR on the SEC
web site at www.sec.gov. Alternatively, these documents will be
made available upon request by Analog Devices or by any underwriter
or dealer participating in the offering. Interested parties may
obtain a prospectus from J.P. Morgan Securities LLC by directing a
request to J.P. Morgan Securities LLC, 383 Madison Avenue, New
York, New York 10179, Attention: High Grade Syndicate Desk, 3rd
Floor, telephone collect at 1-212-834-4533; from Credit Suisse
Securities (USA) LLC by directing a request to Credit Suisse
Securities (USA) LLC, toll free at 1-800-221-1037; or from Merrill
Lynch, Pierce, Fenner & Smith Incorporated by directing a
request to Merrill Lynch, Pierce, Fenner & Smith Incorporated,
222 Broadway, 11th Floor, New York, New York 10038, Attention:
Prospectus Department, e-mail dg.prospectus_requests@baml.com, toll
free at 1-800-294-1322.
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
Innovation, performance, and excellence are the cultural pillars
on which Analog Devices has built one of the longest standing,
highest growth companies within the technology sector. Acknowledged
industry-wide as the world leader in data conversion and signal
conditioning technology, Analog Devices serves over 60,000
customers, representing virtually all types of electronic
equipment. Analog Devices is headquartered in Norwood,
Massachusetts, with design and manufacturing facilities throughout
the world. Analog Devices is included in the S&P 500 Index.
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 the Private Securities Litigation
Reform Act of 1995. All statements other than statements of
historical fact are statements that could be deemed forward-looking
statements. These statements are based on current expectations,
estimates, forecasts, and projections about the industries in which
Analog Devices operates and the beliefs and assumptions of its
management. Words such as “expects,” “anticipates,” “targets,”
“goals,” “projects,” “intends,” “plans,” “believes,” “seeks,”
“estimates,” “may” and “will,” and variations of such words and
similar expressions are intended to identify such forward-looking
statements. Forward-looking statements in this press release
include, without limitation, statements regarding the offering and
application of the net proceeds from the offering. Forward-looking
statements are only predictions and are subject to risks,
uncertainties and assumptions that are difficult to predict and
such other risk factors and cautionary statements described in the
documents Analog Devices files from time to time with the SEC,
specifically its Annual Report on Form 10-K, its Quarterly Reports
on Form 10-Q and its Current Reports on Form 8-K are incorporated
herein by reference. Analog Devices undertakes no obligation to
revise or update any forward-looking statements, except to the
extent required by law.
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