UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM
CURRENT REPORT PURSUANT
TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event
reported) April 2, 2020 (
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Item 8.01 Other Events.
On March 31, 2020, Avnet, Inc. notified Wells Fargo Bank, N.A., as Trustee, that it has elected to redeem on April 30, 2020 all of its outstanding 5.875% Notes due June 15, 2020 (“Notes”) at a make-whole redemption price in accordance with Section 7 of the Officer’s Certificate establishing the terms of the Notes and Article III of the Indenture. Currently, $300 million in principal amount of the Notes is outstanding.
The Company plans to fund the redemption price and related costs with cash on hand and by drawing on its existing $1.25 billion senior unsecured revolving credit facility, which is scheduled to mature on June 28, 2023.
SIGNATURES
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: April 2, 2020 | AVNET, INC. | |
| By: | /s/ Thomas Liguori | |
| Name: Thomas Liguori | ||
| Title: Chief Financial Officer | ||