Avnet lines up sale of single tranche of fixed-rate notes

Chicago, March 6 – Avnet, Inc. plans to price dollar-denominated fixed-rate notes, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will be callable with a make-whole premium until the par call date. Thereafter, they will be callable at par.

If there is a change-of-control triggering event, the notes will be putable at 101.

BofA Securities, Inc., J.P. Morgan Securities LLC, Scotia Capital (USA) Inc. and Truist Securities, Inc. are the joint bookrunners.

Computershare Trust Co., NA is the trustee.

Avent is using in-house counsel. Simpson Thacher & Bartlett LLP is working for the underwriters.

Proceeds will be used to repay amounts owed under the company’s revolver and accounts receivable securitization program, and for general corporate purposes.

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.