Avnet plans notes offering via three bookrunners

By Cristal Cody

Eureka Springs, Ark., March 21 – Avnet, Inc. plans to price an offering of notes, according to a form 424B2 filing with the Securities and Exchange Commission on Monday.

BofA Merrill Lynch, MUFG and J.P. Morgan Securities LLC are the bookrunners.

Proceeds will be used for general corporate purposes, which may include the repayment or redemption of $300 million outstanding 6.625% notes due Sept. 15, 2016 and debt owed under its senior revolving credit facility and accounts receivable securitization program.

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

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