Financing ·
TD SYNNEX borrows $1.75B in senior unsecured term loan to refinance existing debt
SNXTD Synnex Corp
TD SYNNEX entered into a New Term Loan Credit Agreement providing for a senior unsecured term loan of $1,750 million maturing on November 2, 2029. Proceeds were used to fully repay the company's existing $750 million term loan and fund general corporate purposes, including acquisitions. The facility bears interest at SOFR plus an applicable margin ranging from 1.00% to 1.625%, subject to financial covenants requiring a maximum Funded Debt to EBITDA ratio of 4.00 to 1.00. TD SYNNEX operates in the technology supply chain and distribution industry.