| Add to balance / Manage account | User: | Log out |
| Prospect News home > News index > List of issuers A > Headlines for Analog Devices, Inc. > News item |
Analog Devices offers five tranches of fixed-, floating-rate notes, including sustainability notes
By Devika Patel and Cristal Cody
Knoxville, Tenn., Sept. 28 – Analog Devices, Inc. intends to offer notes in five tranches, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be sold in four fixed-rate tranches, including one sustainability-linked tranche, and one floating-rate tranche.
According to a market source, tranches and price talk are as follows:
• Floating-rate notes due Oct. 1, 2024 talked in the SOFR plus 50 basis points to 55 bps area;
• Fixed-rate notes due Oct. 1, 2028 with spread talk in the 70 bps to 75 bps area over Treasuries;
• Fixed-rate notes due Oct. 1, 2031 talked to yield in the 90 bps area over Treasuries;
• Fixed-rate notes due Oct. 1, 2041 with price talk in the Treasuries plus 100 bps to 105 bps area; and
• Fixed-rate notes due Oct. 1, 2051 with a spread in the 112.5 bps area over Treasuries.
The fixed-rate portions will have make-whole calls and par calls. The floater will be non-callable.
Morgan Stanley & Co. LLC is the global coordinator and is a bookrunner with Citigroup Global Markets Inc., BofA Securities Inc., J.P. Morgan Securities LLC and BNP Paribas Securities Corp. Citigroup and BNP Paribas are also structuring advisers for the sustainability-linked notes.
Proceeds will be used for cash tender offers to purchase the company's 2.5% senior notes due December 2021, 2.875% senior notes due June 2023, 3.125% senior notes due December 2023, 3.9% senior notes due December 2025, 4.5% senior notes due December 2036 and 5.3% senior notes due December 2045.
The maker of circuits for electronic equipment is based in Norwood, Mass.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.