Analog Devices to redeem all of its 5% notes via offering proceeds

By Tali David

Minneapolis, May 22 - Analog Devices, Inc. plans to use about $393 million of the net proceeds of a senior note offering to redeem all of the outstanding $375 million principal amount of its 5% notes due 2014, according to a 424B5 filing with the Securities and Exchange Commission.

The notes will be redeemed at an aggregate redemption price equal to about $393 million plus accrued interest on June 6, according to a press release.

The remaining net proceeds will be used for general corporate purposes, which may include capital expenditures, repurchases of common stock under the company's stock repurchase program, dividend payments and acquisitions.

The Bank of New York Mellon is the trustee.

The maker of signal processing chips is based in Norwood, Mass.

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