WASHINGTON (dpa-AFX) - Analog Devices (ADI) Wednesday said it intends to offer around $500 million aggregate principal amount of senior unsecured notes due 2023.
The company plans to use a portion of the net proceeds from this offering to fund the redemption of its 5 percent 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, including 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.
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