ADI launches exchange offer for up to $500M of Maxim 3.45% notes due 2027

ANALOG DEVICES INC

Holders get $970 of ADI 3.450% notes + $1 cash per $1K Maxim notes tendered; early tender adds $30 of ADI notes.
Consent solicitation seeks to eliminate substantially all restrictive covenants and change-of-control repurchase obligations in the Maxim indenture.
Exchange offer expires Oct 5, 2022; early tender deadline is Sept 21, 2022; settlement expected Oct 7, 2022.
New ADI notes have same interest rate, maturity, and payment dates as the Maxim notes; offered in private transaction to QIBs and non-U.S. persons.
Any untendered Maxim notes after consents become governed by amended indenture with stripped covenants.

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.