DOW JONES NEWSWIRES

Analog Devices Inc. (ADI) announced plans to sell $375 million of five-year notes, with a 5% yield, for "general corporate purposes."

A host of companies have been selling new debt the past two months amid increased investor appetite. Many have been using the new capital to pay off other debt.

The semiconductor maker has obviously been caught in the industry's downtrend, with earnings in the latest quarter down 61% on a 27% sales drop. Analog Device's chips are used in cellphones, medical devices and flat-screen televisions.

Shares were up 4.3% to $24.76 ahead of the close. The stock is up 30% this year.

-By Kevin Kingsbury, Dow Jones Newswires; 201-938-2136; kevin.kingsbury@dowjones.com