Norwood, MA (05/22/2013) - Analog Devices, Inc. (NASDAQ: ADI), a global leader in high-performance semiconductors for signal processing applications, today announced that it has priced an offering of $500 million aggregate principal amount of 2.875% senior unsecured notes due June 1, 2023 (the “2023 Senior Notes”). The offering is being conducted pursuant to an effective registration statement under the Securities Act of 1933.
Analog Devices intends to use approximately $393 million of the net proceeds from this offering to fund the previously announced redemption of $375 million aggregate principal amount of its 5.00% senior unsecured notes due 2014 (the “2014 Senior Notes”) on June 6, 2013, the redemption date selected 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. This offering is expected to close on June 3, 2013.
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, and the co-managers are Goldman, Sachs & Co., Morgan Stanley & Co. LLC and Wells Fargo Securities, LLC.
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 firstname.lastname@example.org, 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.
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.