WASHINGTON (dpa-AFX) - Analog Devices, Inc. (ADI) said Wednesday that it has priced an offering of $500 million aggregate principal amount of 2.875% senior unsecured notes due June 1, 2023.
The offering is expected to close on June 3.
The company plans to use about $393 million of the net proceeds from the offering to fund the previously announced redemption of $375 million aggregate principal amount of its 5.00% senior unsecured notes due 2014 on June 6.
Analog Devices plans 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.
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