Arrow enters into $1.2 billion five-year revolving credit facility

Columbus, Ohio, Aug. 22 - Arrow Electronics, Inc. entered into a new $1.2 billion five-year credit facility, according to a company press release.

JP Morgan Chase Bank NA is the administrative agent.

BNP Paribas, Bank of America, The Bank of Nova Scotia and The Bank of Tokyo-Mitsubishi are syndication agents.

The new revolver expires in 2016.

"Our balance sheet is exceptionally strong, and the renewal reflects this strength as well as the solid relationship we have with our banking partners," said Paul J. Reilly, executive vice president of finance and operations, and chief financial officer of Arrow.

The new facility replaces an $800 million revolver and a $200 million term loan that would mature in 2012.

Arrow is a Melville, N.Y.-based provider of products and services to commercial users of electronic components.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.