Analog Devices to redeem $375 million 3% notes due 2016 via new issue

By Susanna Moon

Chicago, Dec. 3 – Analog Devices, Inc. plans to redeem its $375 million of outstanding 3% notes due April 15, 2016 using about $378 million of new issue proceeds, according to a 424B5 filing with the Securities and Exchange Commission.

The company plans to issue senior notes in two tranches.

Remaining proceeds will be used for general corporate purposes, which may include capital expenditures, repurchases of common stock, repayment or refinancing of debt and dividend payments. The company said it also may use some proceeds to finance a possible acquisition.

Analog Devices is a maker of signal processing chips based in Norwood, Mass.

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