Arrow Electronics, Inc. (NYSE: ARW) has announced the pricing of one series of the company´s senior unsecured notes in an aggregate principal amount of USD 500 million maturing on Sept. 8, 2024 and bearing interest at an annual rate of 3.250 percent (the “Notes”), the company said.
The offering is expected to close on Sept. 8, 2017. The company expects to use a portion of the net proceeds from this offering to repay its outstanding 3.00 percent notes due 2018. Pending such application of the net proceeds, the company may invest the net proceeds in short-term interest-bearing accounts, securities or similar investments.
The company may apply the remaining net proceeds for general corporate purposes, which may include acquisitions or the repayment of other indebtedness, including the repurchase or redemption of any existing notes.
The offering is being led by Merrill Lynch, Pierce, Fenner & Smith Incorporated, MUFG Securities Americas Inc. and Scotia Capital (USA) Inc.
Arrow Electronics is a global provider of products, services and solutions to industrial and commercial users of electronic components and enterprise computing solutions. Arrow serves as a supply channel partner for more than 125,000 original equipment manufacturers, contract manufacturers and commercial customers through a global network of more than 465 locations serving over 90 countries.