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Melville, N.Y. — Arrow Electronics Inc. has successfully completed its previously announced sale of $350 million principal amount of 6.875 percent Senior Notes due 2013.
The net proceeds of the offering will be used to repay the company's 8.20% senior notes maturing on October 5, 2003 ($207 million principal amount outstanding at March 31, 2003) and for general corporate purposes.
The notes were sold through an underwritten offering led by Goldman, Sachs & Co., JPMorgan, and Banc of America Securities LLC as joint book-running managers; Credit Suisse First Boston as lead manager; and Fleet Securities, Inc., HSBC, Scotia Capital, and Wachovia Securities as co-managers.
Arrow Electronics is one of the world's largest distributors of electronic components and computer products and a leading provider of services to the electronics industry. For more information, visit www.arrow.com.