Arrow Electronics, Inc. (NYSE:ARW) announced today the pricing of one series of the company's senior unsecured notes in an aggregate principal amount of $500 million maturing on January 12, 2028 and bearing interest at an annual rate of 3.875% (the "Notes"). The offering is expected to close on June 12, 2017. Net proceeds from this offering are expected to be used to: (i) repurchase a portion of the company's outstanding 3.00% notes due 2018, 6.00% notes due 2020, 5.125% notes due 2021 and 7.50% senior debentures due 2027, pursuant to a tender offer and (ii) redeem all of the company's outstanding 6.875% senior debentures due 2018, pursuant to a redemption. Pending the application of the net proceeds, the company may invest the net proceeds in short-term interest-bearing accounts, securities or similar investments. The company may apply the remaining net proceeds for general corporate purposes, which may include acquisitions or the repayment of other indebtedness, including the repurchase or redemption of any existing notes not tendered in the tender offer. Click here for more.
from Cellular News http://bit.ly/2rroVQx
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