Analog Devices Inc 8-K, filed Mar 24, 2023
Analog Devices Inc (ADI)
About this 8-K
Analog Devices Inc filed this 8-K on March 24, 2023.
Items reported
- Item 8.01: Other events
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| Item 8.01. | Other Events |
Notice of Redemption of Maxim Senior Notes
On March 24, 2023, Analog Devices, Inc. (the “Company”) gave notice that it will redeem for cash all of the outstanding 3.450% senior notes due June 15, 2027 issued by its wholly-owned subsidiary Maxim Integrated Products, Inc. (the “Maxim Notes”) in accordance with the terms of the indenture governing the Maxim Notes. The redemption date for the Maxim Notes will be April 26, 2023 (the “Redemption Date”) and the redemption price will be equal to the greater of: (a) 100% of the aggregate principal amount of the Maxim Notes, and (b) the sum of the present values of the remaining scheduled payments due on the Maxim Notes, discounted to the Redemption Date on a semi-annual basis (assuming a 360-day year consisting of twelve 30-day months) at the applicable treasury rate plus 20 basis points, plus accrued and unpaid interest thereon to the Redemption Date; plus, in each case, accrued and unpaid interest on the principal amount of the Maxim Notes to, but excluding, the Redemption Date. As of March 24, 2023, $59,788,000 aggregate principal amount of the Maxim Notes is outstanding. The Company intends to fund the aggregate redemption price using cash on hand.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| Date: March 24, 2023 | ANALOG DEVICES, INC. | |||||
| By: | /s/ Prashanth Mahendra-Rajah | |||||
| Prashanth Mahendra-Rajah | ||||||
| Executive Vice President, Finance and Chief Financial Officer | ||||||