Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers A > Headlines for Arrow Electronics, Inc. > News item |
Arrow Electronics to sell $500 million notes due 2032; price talk Treasuries plus 160 bps area
By Cristal Cody
Chicago, Nov. 16 – Arrow Electronics, Inc. plans to sell $500 million of notes due Feb. 15, 2032 at price talk in the Treasuries plus 160 basis points area, a market source told Prospect News.
The notes will have a make-whole call and a par call a number of months before the maturity date, according to a 424B5 filing with the Securities and Exchange Commission on Tuesday.
A change-of-control triggering event would result in an offer to purchase the notes at 101.
BofA Securities, Inc., BNP Paribas Securities Corp., Goldman Sachs & Co. LLC and SMBC Nikko Securities America, Inc. are joint bookrunners.
Hogan Lovells US LLP is advising the issuer.
Proceeds from the offering will be used to redeem all of the company’s 3.5% notes due 2022. Any remaining proceeds will be used for general corporate purposes, which may include acquisitions or the repayment of debt.
Arrow Electronics is a Centennial, Colo.-based provider of products and services to industrial and commercial users of electronic components and enterprise computing solutions.
© 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.