Arrow Electronics to sell fixed-rate notes via four bookrunners

By William Gullotti

Buffalo, N.Y., Feb. 27 – Arrow Electronics, Inc. intends to price a single tranche of fixed-rate notes, according to a 424B5 filing with the Securities and Exchange Commission.

The notes will have a make-whole call and then a par call a number of months before the maturity date.

A change-of-control triggering event would result in an offer to purchase the notes at 101.

J.P. Morgan Securities LLC, ING Financial Markets LLC, Mizuho Securities USA LLC and PNC Capital Markets LLC are joint bookrunners.

U.S. Bank Trust Co., NA is the trustee.

Latham & Watkins LLP is counsel to the issuer. Counsel to the underwriters is provided by Davis Polk & Wardwell LLP.

Proceeds from the offering will be used to redeem all of the company’s $300 million 4.5% notes due March 1, 2023. 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.

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