Arrow Electronics selling $700 million seven-, 10-year senior notes

By Aleesia Forni

Virginia Beach, Feb. 23 – Arrow Electronics, Inc. is planning to price $700 million senior notes (Baa3/BBB-/BBB-) in seven-year and 10-year tranches, according to a market source and a 424B2 filing with the Securities and Exchange Commission.

There is a change-of-control put at 101%.

BofA Merrill Lynch, J.P. Morgan Securities LLC and Morgan Stanley & Co. LLC are the bookrunners.

Proceeds will be used to refinance outstanding 3.375% notes due Nov. 1, 2015 and for other general corporate purposes.

The maker of electronic components and enterprise computing solutions is based in Melville, N.Y.

© 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.