Avnet Inc. has announced plans to offer $500 million in Convertible Senior Notes due 2030 in a private offering, subject to market conditions. The company has also granted initial purchasers an option to buy an additional $75 million in Notes. Avnet intends to use the proceeds to repurchase up to $100 million of its common stock and repay part of its revolving credit facility. The Notes will be senior unsecured obligations and will be offered to qualified institutional buyers under Rule 144A. The move aims to optimize Avnet's capital structure and support its financial strategies.
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