Analog Devices Announces Inaugural Sustainability-Linked Bond Issuance, a First in the U.S. Technology Sector
05 Outubro 2021 - 5:30PM
Business Wire
Analog Devices Inc. (Nasdaq: ADI) (“ADI” or the “Company”), a
leading global high-performance semiconductor company, has
furthered its leadership in sustainable financing following the
successful placement of its inaugural sustainability-linked bond
offering of $750 million in 7-year notes. This bond offering, a
first in the U.S. technology sector, supports ADI’s commitment to
environmental sustainability by linking financing to the
achievement of its ambitious ESG targets.
Earlier this year, ADI continued to advance its climate strategy
with new commitments to reduce the Company’s carbon footprint. ADI
developed Science-Based Target reduction plans and set goals to
become carbon neutral by 2030 and achieve net zero emissions by
2050 or sooner. In support of this, ADI also joined the U.N. Global
Compact and their campaign, Business Ambition for 1.5°C, a call to
action to reach a net zero emissions target. ADI is committed to
reduce absolute Scope 1 and 2 greenhouse gas (GHG) emissions by 27%
by 2025 and 50% by 2030 from a 2019 base year – consistent with
reductions believed to be required to limit global warming to 1.5°C
above pre-industrial levels. Importantly, ADI’s newly issued
sustainability-linked bond ties the interest rate on the bond to
the achievement of the first of these two goals.
“Leveraging sustainable financing is imperative to tackling
society’s greatest threats, particularly climate change, and ADI is
proud to be a pioneer for the U.S. technology sector in building
this emerging market,” said Prashanth Mahendra-Rajah, Chief
Financial Officer of Analog Devices. “Our inaugural
sustainability-linked bond further reinforces our commitment to
environment sustainability, especially the reduction of greenhouse
gas emissions, which will help enable the transition towards a
low-carbon economy.”
ADI is the first U.S. technology company to deploy three
sustainable finance instruments with its sustainability-linked bond
offering. In April 2020, ADI completed its inaugural green bond
issuance of $400 million, marking its leadership as the first
semiconductor company and one of the first U.S. technology
companies to issue a green bond in the U.S. debt capital markets.
In June 2021, ADI refinanced its revolving credit facility with a
new a $2.5 billion sustainability-linked revolving credit facility,
becoming one of the first semiconductor companies to use this
instrument.
To provide ADI with the flexibility to utilize a full slate of
sustainable finance instruments going forward, the Company also
established a Sustainability-Linked Financing Framework in
September 2021. This comprehensive framework received a
second-party opinion from DNV. ADI believes that sustainable
financing will not only support the Company’s broad sustainability
strategy and vision but will also hold it accountable for meeting
established goals.
More details on ADI’s ESG commitments and initiatives can be
found in ADI’s 2020 Corporate Responsibility Report published
earlier this year.
About Analog Devices, Inc.
Analog Devices, Inc. (NASDAQ: ADI) operates at the center of the
modern digital economy, converting real-world phenomena into
actionable insight with its comprehensive suite of analog and mixed
signal, power management, radio frequency (RF), and digital and
sensor technologies. ADI serves 125,000 customers worldwide with
more than 75,000 products in the industrial, communications,
automotive, and consumer markets. ADI is headquartered in
Wilmington, MA. Visit http://www.analog.com.
Forward-Looking Statements
This press release contains “forward-looking statements” within
the meaning of the federal securities laws. Forward-looking
statements address a variety of subjects, including, for example,
statements about the Company’s sustainability goals and targets.
Statements that are not historical facts, including statements
about the Company’s beliefs, plans and expectations, are
forward-looking statements. Such statements are based on the
Company’s current expectations and are subject to a number of
factors and uncertainties, which could cause actual results to
differ materially from those described in the forward-looking
statements. Forward-looking statements often contain words such as
“expect,” “anticipate,” “intend,” “plan,” “believe,” “will,”
“estimate,” “would,” “target” and similar expressions, as well as
variations or negatives of these words. The following important
factors and uncertainties, among others, could cause actual results
to differ materially from those described in these forward-looking
statements: the risks and uncertainties related to market
conditions and the risks and uncertainties described in a
registration statement on Form S-3 (File No. 333-259782) and a
related prospectus and prospectus supplement filed with the
Securities and Exchange Commission on September 30, 2021. For
additional information about other factors that could cause actual
results to differ materially from those described in the
forward-looking statements, please refer to the Company’s periodic
reports and other filings with the Securities and Exchange
Commission, including the risk factors contained in the Company’s
most recent Quarterly Reports on Form 10-Q and Annual Reports on
Form 10-K. Forward-looking statements represent management’s
current expectations and are inherently uncertain and are made only
as of the date hereof. Except as required by law, the Company does
not undertake or assume any obligation to update any
forward-looking statements, whether as a result of new information
or to reflect subsequent events or circumstances or otherwise.
(ADI-WEB)
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version on businesswire.com: https://www.businesswire.com/news/home/20211005006018/en/
Investor Contact: Mr. Michael Lucarelli 781-461-3282
investor.relations@analog.com
Media Contact: Ms. Brittany Stone 917-935-1456
Brittany.Stone@teneo.com
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