Avnet set to redeem $300 million 5.875% notes due 2020 on April 30

By Sarah Lizee

Olympia, Wash., April 2 – Avnet, Inc. plans to redeem all $300 million of its 5.875% notes due June 15, 2020 on April 30, according to an 8-K filing with the Securities and Exchange Commission.

The notes will be redeemed at a make-whole redemption price.

The company plans to fund the redemption price and related costs with cash on hand and by drawing on its existing $1.25 billion senior unsecured revolving credit facility, which is scheduled to mature on June 28, 2023.

Avnet is a Phoenix-based distributor of electronic components, enterprise computer and storage products and IT solutions and services.

© 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.