Analog Devices readies senior notes offering in two parts

By Mary-Katherine Stinson

Lexington, Ky., April 1 – Analog Devices, Inc. is marketing a two-tranche fixed-rate senior notes offering, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will be callable with make-whole premiums until a number of months before each maturity date when they will be callable at par.

Any change of control would trigger a put at 101.

BofA Securities, Inc., Citigroup Global Markets Inc., J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC, Barclays and BNP Paribas Securities Corp. are the bookrunners for the SEC-registered deal.

Bank of New York Mellon Trust Co., NA is the trustee.

Wilmer Cutler Pickering Hale and Dorr LLP are advising the issuer. Cravath, Swaine & Moore LLP is working as counsel to the underwriters.

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 Wilmington, Mass.

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