Ad
Ad
Ad
Ad
Ad
Ad
Ad
Ad
Electronics Production | August 29, 2006

Solectron secures credit facility

Solectron has secured a three-year, $350 million revolving credit facility that includes an accordion feature which allows the facility to be increased to $500 million at the Company's discretion, subject to certain conditions.
The agreement, which will expire Aug. 28, 2009, amends and restates a $500 million credit agreement scheduled to expire Aug. 20, 2007. The new $350 million revolver includes more favorable terms than the previous agreement and was oversubscribed.

The company said its cash position has improved since 2004, when the revolving credit facility was last renewed, and that the size of the new facility was more appropriate for the company's fiscal requirements. No amounts are currently drawn on the revolving credit facility, and the company did not borrow under the previous agreement.

The facility was co-arranged by Banc of America Securities LLC and J.P. Morgan Securities Inc. Other top lenders include Scotia Capital, Citigroup, ABN AMRO and The Royal Bank of Scotland. In addition, six other lenders committed to the facility.
Ad
Ad
Ad
Ad
Load more news
November 21 2018 9:45 pm V11.9.9-2