Arrow Electronics gets up to $1.5 billion more on five-year agreement

By Tali David

Minneapolis, Dec. 18 - Arrow Electronics, Inc. and certain of its subsidiaries entered into an amended and restated five-year credit agreement that provides for extensions of credit in the aggregate amount of up to $1.5 billion, according to an 8-K filed with the Securities and Exchange Commission.

The borrowings consist of revolving credit facilities and letters of credit.

The company and certain of its U.S. and non-U.S. subsidiaries may be borrowers under the credit agreement. Loans may be made, and letters of credit may be issued, under the credit agreement in dollars, British pounds sterling, euros and other specified currencies.

The agreement will mature on Dec. 13, 2018.

JPMorgan Chase Bank, NA is the administrative agent. BNP Paribas, Bank of America, NA, Bank of Nova Scotia and Bank of Tokyo-Mitsubishi UFJ, Ltd. are syndication agents, and J.P. Morgan Securities LLC, BNP Paribas Securities Corp., Merrill Lynch Pierce, Fenner & Smith Inc., Bank of Nova Scotia and Bank of Tokyo-Mitsubishi UFJ, Ltd., are the joint lead arrangers and joint bookrunners on the deal.

Based in Englewood, Colo., Arrow provides products and services to industrial and commercial users of electronic components and enterprise computing.

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