Arrow Electronics, Inc. (NYSE:ARW) announced today that the company will
redeem for cash all of its outstanding 6.875% Notes due 2013 (the
“Notes”) on March 15, 2013 at a redemption price equal to the sum of
100% of the principal amount outstanding, a make-whole premium which
will be calculated three business days prior to the redemption date in
accordance with the Indenture (as defined below), and accrued and unpaid
interest on the principal amount being redeemed to, but not including,
the redemption date.
The Notes were issued pursuant to an Indenture dated January 15, 1997,
as supplemented (the “Indenture”), among the Company and The Bank of New
York Mellon (as successor to the Bank of Montreal Trust Company), as
trustee.
As of February 12, 2013, $332,107,000 aggregate principal amount of
Notes remain outstanding. On and after the date of redemption, the Notes
will no longer be deemed outstanding, interest will cease to accrue
thereon and all rights of the holder of the Notes will cease to exist,
except for the right to receive the redemption price, without interest
thereon.
The notice of redemption containing information required by the terms of
the Indenture was sent to registered holders of the Notes today. Notes
are to be surrendered to The Bank of New York Mellon Trust Company, N.A.
as trustee and paying agent, in exchange for payment of the redemption
price on March 15, 2013, in accordance with the instructions specified
in the notice of redemption.
This is not an offer to sell or a solicitation of an offer to buy any
securities.
Arrow Electronics (www.arrow.com)
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
100,000 original equipment manufacturers, contract manufacturers and
commercial customers through a global network of more than 470 locations
in 55 countries.
Safe Harbor
The Private Securities Litigation Reform Act of 1995 provides a “safe
harbor” for forward-looking statements. This press release includes
forward-looking statements that are subject to a number of risks and
uncertainties that 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 ECS 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, change in legal and regulatory
matters, the company’s ability to generate additional cash flow and the
other risks described from time to time in the company’s reports to the
Securities and Exchange Commission (including the company’s Annual
Report on Form 10-K and Quarterly Reports on Form 10-Q). 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.