Rochester, NY 8/4/2009 7:56:05 PM
Analog Devices, ADI - Raise $375 Million in Debt Offer
ANALOG DEVICES
ANALOG DEVICES, ADI
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Analog Devices Inc. said Thursday it plans to raise $375 million through a corporate debt offering as the company continues to generate solid cash flows despite short-term revenue declines.
Norwood, Massachusetts-based Analog said proceeds from the offering of senior unsecured notes would be put toward general corporate purposes. In fiscal 2008, Analog Devices generated about $669 million in cash from operations, or 26 percent of revenue, after the reduction of $110 million of taxes related to the sale of two businesses.
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