Avnet announces plans to sell fixed-rate notes via three bookrunners

By Devika Patel

Knoxville, Tenn., May 4 – Avnet, Inc. intends to sell fixed-rate notes (Baa3/BBB-), according to a 424B2 filing with the Securities and Exchange Commission.

The notes initially may be called with a make-whole premium and then are callable at par.

BofA Securities, Inc., J.P. Morgan Securities LLC and Wells Fargo Securities LLC are the bookrunners.

Proceeds will be used to redeem the company’s $300 million of 3.75% notes and for general corporate purposes.

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

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