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Electronics Production | October 11, 2006

Sanmina-SCI Receives Credit Facility

Sanmina-SCI has signed a deal for a $600 million credit facility, according to an 8-K filed with the Securities and Exchange Commission on Tuesday.
Sanmina-SCI entered into a commitment with Bank of America, Citigroup, Deutsche Bank Cayman Islands Branch and Deutsche Bank Securities for a credit loan facility that will mature on Jan. 31, 2008. Sanmina said it will use the loan to refinance $525 million outstanding principal amount of 3% convertible notes due 2007 issued by SCI Systems, working capital and general business uses. The deal is subject to conditions including due diligence reviews, relevant documentation and other customary provisions of such financing.
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