Avnet intends to sell fixed-rate notes via three bookrunners

By Devika Patel

Knoxville, Tenn., May 12 – Avnet, Inc. plans to price dollar-denominated fixed-rate notes, 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.

BNP Paribas Securities Corp., BofA Securities, Inc. and J.P. Morgan Securities LLC are the bookrunners.

Computershare Trust Co., NA is the trustee.

Counsel to the issuer is provided by in-house counsel and by Covington & Burling LLP and to the underwriters by Simpson Thacher & Bartlett LLP.

Proceeds will be used to redeem the company’s $350 million of 4.875% 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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