Analog Devices to repay some term loans using new notes proceeds

By Susanna Moon

Chicago, March 8 – Analog Devices, Inc. plans to pay down some of its $2.1 billion term loans due March 10, 2022 using proceeds of an offering of senior notes in two tranches, according to a 424B5 filing with the Securities and Exchange Commission.

Interest on the term loans is Libor plus 125 basis points, with the spread ranging from Libor plus 87.5 bps to 175 bps.

Any remaining proceeds will be used for general corporate purposes, which may include capital expenditures, repurchases of common stock, repayment or refinancing of debt, dividend payments and acquisitions.

The maker of circuits for electronic equipment is based in Norwood, Mass.

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