Arrow Electronics expands securitization facility to $1.2 billion

By Marisa Wong

Morgantown, W.Va., June 26 – Arrow Electronics, Inc. amended its existing accounts receivables securitization facility to increase the size of the facility to $1.2 billion from $910 million and extend the maturity to June 18, 2021 from Sept. 18, 2019, according to an 8-K filing with the Securities and Exchange Commission.

In addition, the amendment changed the benchmark for interest under the facility from a CP rate to a one-month Libor rate.

The banks participating in the facility are Bank of America, Mizuho, PNC, Wells Fargo, Sumitomo Mitsui Banking Corp. and Branch Banking and Trust Co.

Centennial, Colo.-based Arrow Electronics provides products and services to industrial and commercial users of electronic components and enterprise computing.

© 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.