Analog Devices Closes Semiconductor Industry’s First Green Bond
08 Aprile 2020 - 10:15PM
Business Wire
Proceeds from $400 Million Offering to Support
Key Sustainability Initiatives
Analog Devices, Inc. (Nasdaq:ADI) today announced the successful
closing of the first green bond offering in the semiconductor
industry. The company’s green bond issuance consisted of $400
million aggregate principal amount of 2.950% senior unsecured notes
due April 2025.
“At ADI, we are committed to engineering a sustainable future
and this is an important next step in driving sustainable growth
for all ADI stakeholders. We are proud to lead the semiconductor
industry with our green bond issuance,” said Vincent Roche,
President and CEO of Analog Devices.
ADI intends to use the net proceeds from the offering to finance
or refinance eligible projects that offer sustainability benefits,
furthering the company’s commitment to environmental
sustainability. The eligible categories for the use of the net
proceeds – renewable energy, energy efficiency, green buildings,
sustainable water and wastewater management, pollution prevention
and control, clean transportation, and eco-efficient and/or
circular economy adapted products, production technologies and
processes – are designed to protect and regenerate the environment
and are in alignment with the United Nations Sustainable
Development Goals.
“We were very pleased with the significant institutional
investor interest for our green bond offering. This issuance
further strengthens ADI’s financial position and diversifies our
debt investor base,” said Prashanth Mahendra-Rajah, CFO of Analog
Devices.
In connection with the green bond, ADI worked with
Sustainalytics, a leading global provider of environmental, social
and corporate governance research and ratings. Sustainalytics
reviewed ADI’s green bond framework and opined that it is credible
and aligns with the four core components of the Green Bond
Principals 2018.
The notes were offered pursuant to an effective registration
statement under the Securities Act of 1933 (the “Securities Act”)
by means of a prospectus and related prospectus supplement, copies
of which may be obtained by visiting EDGAR on the SEC website at
www.sec.gov. Alternatively, copies may be obtained by calling J.P.
Morgan Securities LLC at (212) 834-4533 or Citigroup Global Markets
Inc. at 1-800-831-9146.
This communication shall not constitute an offer to sell or the
solicitation of an offer to buy any securities, nor shall there be
any sale of securities in any jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such
jurisdiction.
About Analog Devices
Analog Devices (Nasdaq:ADI) is a leading global high-performance
analog technology company dedicated to solving the toughest
engineering challenges. We enable our customers to interpret the
world around us by intelligently bridging the physical and digital
with unmatched technologies that sense, measure, power, connect and
interpret. Visit http://www.analog.com.
Forward Looking Statements
This release may be deemed to contain forward-looking statements
regarding future events and our future results that are subject to
the safe harbor created under Private Securities Litigation Reform
Act of 1995 and other safe harbors under the Securities Act and the
Securities Exchange Act of 1934 (the “Exchange Act”). All
statements other than statements of historical fact are statements
that could be deemed forward-looking statements, including
statements relating to the use of proceeds from the sale of the
notes and the expected benefits from Analog Devices’ commitment to
environmental sustainability. Such statements are based on Analog
Devices’ current expectations and are subject to a number of
factors and uncertainties, which could cause actual results to
differ materially from those described in the forward-looking
statements. You should pay particular attention to the important
risk factors and cautionary statements referenced in the “Risk
Factors” section of the prospectus related to the offering
referenced above, as well as the risk factors and cautionary
statements described in Analog Devices’ filings with the Securities
and Exchange Commission (“SEC”), including the risk factors
contained in its most recent Quarterly Report on Form 10-Q.
Forward-looking statements represent management’s current
expectations and are inherently uncertain. Except as required by
law, Analog Devices does not undertake any obligation to update
forward-looking statements it makes to reflect subsequent events or
circumstances.
(ADI-WEB)
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version on businesswire.com: https://www.businesswire.com/news/home/20200408005718/en/
Media: Teneo Ms. Andrea Duffy, 646-984-0240
andrea.duffy@teneo.com
Investors: Analog Devices, Inc. Mr. Michael Lucarelli,
781-461-3282 Sr. Director of Investor Relations
investor.relations@analog.com
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