Analog Devices, Inc. Commences Cash Tender Offer for Any and All of Its Outstanding 2.500% Senior Notes Due December 2021
September 28, 2021 at 09:12 am EDT
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On September 28, 2021, Analog Devices, Inc. announced that it had commenced a cash tender offer (the “Tender Offer”) for any and all of its outstanding 2.500% Senior Notes due December 2021 (the “2021 Notes”), its outstanding 2.875% Senior Notes due June 2023 (the “June 2023 Notes”), its outstanding 3.125% Senior Notes due December 2023 (the “December 2023 Notes”), its outstanding 3.900% Senior Notes due December 2025 (the “2025 Notes”), its outstanding 4.500% Senior Notes due December 2036 (the “2036 Notes”) and its outstanding 5.300% Senior Notes due December 2045 (the “2045 Notes”, and together with the 2021 Notes, the June 2023 Notes, the December 2023 Notes, the 2025 Notes and the 2036 Notes, the “Notes”). The complete terms and conditions of the Tender Offer are set forth in an offer to purchase and notice of guaranteed delivery (collectively, the “Tender Offer Documents”) that will be sent to registered holders of the Notes. The Tender Offer will expire on October 4, 2021, unless extended or earlier terminated (the “Expiration Time”). The applicable consideration for each $1,000 principal amount of Notes validly tendered (and not validly withdrawn) prior to the Expiration Time and accepted for purchase pursuant to the Tender Offer will be determined in the manner described in the Tender Offer Documents by reference to the applicable fixed spread for such Notes plus the applicable yield based on the bid-side price of the applicable U.S. Treasury Reference Security on October 4, 2021, unless extended. Holders will also receive accrued and unpaid interest on the Notes validly tendered (and not validly withdrawn) prior to the Expiration Time and accepted for purchase from the applicable last interest payment date up to, but not including, the date the Company initially makes payment for such Notes, which date is anticipated to be October 5, 2021 (the “Settlement Date”). Notes tendered by notice of guaranteed delivery (and not validly withdrawn) prior to the Expiration Time and accepted for purchase will be purchased on the third business day after the Expiration Time, but payment of accrued interest on such Notes will only be made to, but not including, the Settlement Date.
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. 
