SYNNEX entered into a new $5 billion credit facility consisting of a $1.5 billion term loan and a $3.5 billion revolving credit facility. Citigroup Global Markets is the joint lead arranger and joint bookrunner for the new revolving credit and term loan facilities.
SYNNEX renewed its existing credit agreement and secured $1.8 billion in incremental financing. Bank of America served as administrative agent on the transaction.
SYNNEX amended its credit agreement to increase the amount of its revolver by $325 million, to $600 million; its term loan commitment by $575 million, to $1.2 billion and incremental commitments for revolving loans or term loans by $50 million, to $400 million.
SYNNEX announced completion of a new financing arrangement to fund the acquisition of IBM’s customer relationship management business, as well as SYNNEX’ general working capital requirements.