CENTENNIAL, Colo.--(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.
