By Andrea Heisinger
New York, June 25 - Analog Devices Inc. priced $375 million 5% five-year notes Thursday to yield Treasuries plus 250 basis points, according to a market source and a press release.
The notes (A3/BBB+/) priced at 99.576 to yield 5.097% with a make-whole call at Treasuries plus 37.5 bps.
The notes feature a change-of-control put of 101%.
Bookrunners were Credit Suisse Securities and Banc of America Securities LLC. The co-manager was Morgan Stanley & Co. Inc.
Proceeds will be used for general corporate purposes.
The analog and signal processing equipment company is based in Norwood, Mass.
| Issuer: | Analog Devices Inc.
|
| Issue: | Notes
|
| Amount: | $375 million
|
| Maturity: | July 1, 2014
|
| Bookrunners: | Credit Suisse Securities, Banc of America Securities LLC
|
| Co-manager: | Morgan Stanley & Co. Inc.
|
| Coupon: | 5%
|
| Price: | 99.576
|
| Yield: | 5.097%
|
| Spread: | Treasuries plus 250 bps
|
| Call: | Make-whole at Treasuries plus 37.5 bps
|
| Change-of-control put: | 101%
|
| Trade date: | June 25
|
| Settlement date: | June 30
|
| Ratings: | Moody's: A3
|
| Standard & Poor's: BBB+
|
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