Analog Devices Announces Pricing of Tender Offer for Senior Notes
October 04, 2021 at 03:06 pm EDT
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Analog Devices, Inc. announced that it has priced the previously announced cash tender offer for any and all of its outstanding 2.500% Senior Notes due December 2021, its outstanding 2.875% Senior Notes due June 2023, its outstanding 3.125% SeniorNotes due December 2023, its outstanding 3.900% SeniorNotes due December 2025, its outstanding 4.500% Senior Notes due December 2036 and its outstanding 5.300% Senior Notes due December 2045. The tender offer is being made on the terms and subject to the conditions set forth in the Offer to Purchase, dated September 28, 2021 and the related Notice of Guaranteed Delivery attached to the Offer to Purchase. The tender offer is referred to as the “Offer.” The Offer to Purchase and the Notice of Guaranteed Delivery are referred to together as the Offer Documents. In addition, holders whose Notes are validly tendered pursuant to the Offer (and not validly withdrawn) prior to the Expiration Time will receive accrued and unpaid interest from the last interest payment date to, but not including, the Settlement Date (as defined in the Offer to Purchase) for all Notes tendered pursuant to the Offer (and not validly withdrawn) prior to the Expiration Time, including Notes tendered by Notice of Guaranteed Delivery. The company expects the Settlement Date to occur on October 5, 2021. Notes tendered by Notice of Guaranteed Delivery (and not validly withdrawn) prior to the Expiration Time and accepted for purchase will be purchased on the third business day after the Expiration Time, which is expected to be October 7, 2021, assuming the Expiration Time is not extended, but payment of accrued interest on such Notes will only be made to, but not including, the Settlement Date. The applicable “Tender Offer Consideration” listed in the table above for each $1,000 principal amount of Notes validly tendered pursuant to the Offer (and not validly withdrawn) prior to the Expiration Time and accepted for purchase pursuant to the Offer was determined in the manner described in the Offer Documents by reference to the fixed spread for the applicable Notes specified in the table above plus the yield based on the applicable bid-side price of the U.S. Treasury Reference Security, New York City time, on October 4, 2021.
Analog Devices, Inc. specializes in the design, manufacturing and marketing of integrated circuits. The group's activity is organized around 2 families of products:
- analog integrated circuits: converters, amplifiers, MEMS systems, integrated radio frequency circuits, etc.);
- digital integrated circuits.
Net sales break down by market between industrial equipment (53.2%), automotive products (20.9%), communication products (15.7%), and consumer electronics products (9.9%).
Net sales are distributed geographically as follows: the United States (33.8%), Americas (0.7%), China (18.1%), Japan (11.4%), Asia (11.6%), and Europe (24.4%).
ANALOG DEVICES, INC. 
