Avnet to conduct sale of fixed-rate notes via three bookrunners

By Devika Patel

Knoxville, Tenn., Nov. 29 – Avnet, Inc. intends to price an offering of fixed-rate notes, according to a 424B5 filed with the Securities and Exchange Commission on Tuesday.

The notes have a make-whole call and a par call.

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

Proceeds will be used to repay or redeem Premier Farnell’s 5.24% guaranteed senior notes due July 2, 2017, 4.36% guaranteed senior notes due Nov. 15, 2018, 4.83% guaranteed senior notes due Nov. 15, 2021 and 4.01% guaranteed senior notes due Sept. 17, 2024. Avnet expects to use any remaining proceeds to repay debt under credit facilities.

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

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