AVNET INC (AVT): debt financing — Avnet issues $650M of 1.75% convertible notes due 2030; repurchases $100M in stock

AVNET INC

Issued $650M aggregate principal of 1.75% Convertible Senior Notes due 2030, including full exercise of initial purchasers' option for additional $100M.
Net proceeds ~$632.8M; used $100M to repurchase ~1.92M shares of common stock concurrently.
Remaining net proceeds to repay a portion of the Company's revolving credit facility.
Initial conversion price ~$70.27 per share, ~35% premium over last reported sale price of $52.05 on Sept 2, 2025.
Notes mature Sept 1, 2030; redemption option available on/after Sept 8, 2028 under certain conditions.

item 1.01 item 2.03 item 3.02 item 8.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

AVNET INC incurred convertible notes of $650.0 million with Initial Purchasers at 1.75% per year maturing September 1, 2030.

Instrument: convertible notes
Principal: $650.0 million
Counterparty: Initial Purchasers
Rate: 1.75% per year
Maturity: September 1, 2030
Event: incurrence

Exact text from the filing

On September 5, 2025, Avnet, Inc. (“Avnet” or the “Company”) issued and sold $650.0 million aggregate principal amount of its 1.75% Convertible Senior Notes due 2030 (the “Notes”)

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AVNET INC filing history →

Source: SEC EDGAR

accession 0000008858-25-000047

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