08/21/2026 | Press release | Distributed by Public on 08/21/2026 14:08
| Item 8.01. | Other Events. |
On August 19, 2026, Avnet, Inc. ("Avnet" or the "Company") priced a public offering of $550 million in aggregate principal amount of 5.650% Notes due 2031 (the "Notes"). Avnet expects to use the net proceeds from the offering to repay amounts owed under the Company's senior unsecured revolving credit facility and the Company's accounts receivable securitization program.
The offering was made pursuant to an Underwriting Agreement, dated August 19, 2026, by and among the Company and the representatives of the several underwriters listed therein, in an offering registered on a Registration Statement on Form S-3 (File No. 333-298324), which was filed with the Securities and Exchange Commission on August 14, 2026. The Notes are being issued pursuant to an Indenture, dated as of June 22, 2010, by and between the Company and Computershare Trust Company, National Association, as successor to Wells Fargo Bank, National Association, as trustee, and an Officers' Certificate (which includes the form of Note as an exhibit) setting forth the terms of the Notes (the "Officers' Certificate"). Copies of the Underwriting Agreement and the form of Officers' Certificate are filed herewith as Exhibit 1.1 and Exhibit 4.1 respectively, and are incorporated herein by reference. The Notes will accrue interest from the date of their issuance at a rate of 5.650%. The Notes will rank equally with all of the Company's other existing and future unsecured obligations. The offering of the Notes is expected to close on August 24, 2026.
The above description of the Underwriting Agreement and the Notes is qualified in its entirety by reference to the Underwriting Agreement and the forms of Officers' Certificate and the Notes filed as exhibits hereto, which exhibits are incorporated by reference herein.
The legality opinion of Michael R. McCoy, Senior Vice President, General Counsel and Chief Legal Officer of the Company, relating to the issuance of the Notes, is filed herewith as Exhibit 5.1.