Daily News: September 18, 2012

Bank of America Business Capital Amends Facility for Sanmina-SCI


Bank of America Business Capital announced it has amended and restated a $300 million revolving credit facility for Sanmina-SCI, replacing the prior $235 million facility.

Sanmina-SCI Corporation is an electronics contract manufacturer serving the fastest-growing segments of the global Electronics Manufacturing Services (EMS) market. Sanmina-SCI provides end-to-end manufacturing solutions, delivering superior quality and support to original equipment manufacturers primarily in the communications, defense and aerospace, industrial and semiconductor systems, medical, multimedia, enterprise computing and storage, automotive and clean technology sectors. Sanmina-SCI, based in San Jose, CA, has facilities strategically located in key regions around the world.

The amended and restated facility provides additional line capacity and includes a broader selection of Sanmina-SCI’s assets in the borrowing base formulas. Proceeds from the new credit facility are available for general corporate purposes, including working capital, capital expenditures and support of strategic and capital market initiatives.

Bank of America said it is pleased to once again provide credit solutions to Sanmina-SCI, which has now mandated Bank of America to be lead agent for every working capital line of credit since 2001.