Daily News: September 8, 2017

BofA Agents SYNNEX Facility Upsize to $2.2B


SYNNEX amended its credit agreement, initially dated November 27, 2013 with Bank of America as administrative agent for the lending group and certain U.S. subsidiaries of SYNNEX, as guarantors.

Among other things, the amendment included:

• Increasing the amount of the revolving loan commitment by $325 million, to $600 million

• Increasing the amount of the term loan commitment by $575 million, to $1,200 million, of which $700 million has been advanced, with the remaining balance of up to $500 million capable of being advanced in one additional drawing over a six-month period ending in March 2018, and with the proceeds of all such term loans able to be used to finance working capital, make capital expenditures, make permitted acquisitions and for other lawful corporate purposes

• Increasing the amount of incremental commitments for revolving loans or term loans capable of being requested by $50 million, to $400 million

• Extending the maturity date for revolving loans and the existing term loan to five years to September 1, 2022