Arrow Electronics Prices $500 Million Notes Offering
September 05 2017 - 6:07PM
Business Wire
Arrow Electronics, Inc. (NYSE: ARW) announced today the pricing
of one series of the company’s senior unsecured notes in an
aggregate principal amount of $500 million maturing on Sept. 8,
2024 and bearing interest at an annual rate of 3.250 percent (the
“Notes”). 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. The offering is being made pursuant to an
effective shelf registration statement filed with the Securities
and Exchange Commission, and the offering will be made only by
means of a prospectus supplement for such offering and an
accompanying prospectus. Copies of the prospectus supplement and
accompanying prospectus relating to the offering may be obtained by
writing or calling the joint book-running managers for the offering
as follows: Merrill Lynch, Pierce, Fenner & Smith Incorporated
at NC1-004-03-43, 200 North College Street, 3rd Floor, Charlotte,
NC 28255-0001, Attn: Prospectus Department or
dg.prospectus_requests@baml.com or by calling toll free
1-800-294-1322; MUFG Securities Americas Inc. at 1221 Avenue of the
Americas, 6th Floor, New York, NY 10020-1001 or by calling toll
free 1-877-649-6848; or Scotia Capital (USA) Inc. at 250 Vesey
Street, New York, NY 10281 or by calling toll free 1-800-372-3930.
An electronic copy of the prospectus supplement is available on the
website of the Securities and Exchange Commission at
www.sec.gov.
This press release is neither an offer to sell nor the
solicitation of an offer to buy the Notes. In addition, there shall
be no sale of these securities in any jurisdiction in which the
offer, solicitation, or sale would be unlawful.
Information Relating to Forward-Looking
Statements
This press release includes forward-looking statements that are
subject to numerous assumptions, risks, and uncertainties, which
could cause actual results or facts to differ materially from such
statements for a variety of reasons, including, but not limited to:
industry conditions, the company’s implementation of its new
enterprise resource planning system, changes in product supply,
pricing and customer demand, competition, other vagaries in the
global components and global enterprise computing solutions
markets, changes in relationships with key suppliers, increased
profit margin pressure, the effects of additional actions taken to
become more efficient or lower costs, risks related to the
integration of acquired businesses, changes in legal and regulatory
matters, and the company’s ability to generate additional cash
flow. Forward-looking statements are those statements which are not
statements of historical fact. These forward-looking statements can
be identified by forward-looking words such as “expects,”
“anticipates,” “intends,” “plans,” “may,” “will,” “believes,”
“seeks,” “estimates,” and similar expressions. Shareholders and
other readers are cautioned not to place undue reliance on these
forward-looking statements, which speak only as of the date on
which they are made. The company undertakes no obligation to update
publicly or revise any of the forward-looking statements.
For a further discussion of factors to consider in connection
with these forward-looking statements, investors should refer to
Item 1A Risk Factors of the company’s Annual Report on Form 10-K
for the year ended Dec. 31, 2016.
About Arrow Electronics
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.
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version on businesswire.com: http://www.businesswire.com/news/home/20170905006564/en/
Arrow Electronics, Inc.Steven O’Brien, 303-824-4544Vice
President, Investor RelationsorMedia Contact:John Hourigan,
303-824-4586Vice President, Global Communications
Arrow Electronics (NYSE:ARW)
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