Financing ·
Avnet increases credit facility commitments by $1B to total $2.75B and removes SOFR spread adjustment
AVTAvnet Inc
Avnet, Inc. entered into Amendment No. 3 to its Third Amended and Restated Credit Agreement with Bank of America and other lenders. The amendment increases aggregate commitments under the credit facility by $1 billion, bringing the total commitment amount to $2.75 billion. It also raises the maximum additional commitments available for request by $1 billion and eliminates the SOFR credit spread adjustment from the interest rate calculation. Other terms remain substantially unchanged. Avnet operates as a global distributor of electronic components and embedded solutions.