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Solectron Replaces Expiring 364-Day Credit Facility
February 18, 2003 |Estimated reading time: Less than a minute
Milpitas, Calif. -- Solectron Corp. has executed a secured 364-day, $200 million credit facility to replace its existing 364-day, $250 million facility that expired on February 13.
The new facility expires February 12, 2004.
Solectron also amended its existing multi-year, $250 million credit facility to incorporate substantially the same terms as negotiated in the new 364-day facility. The multi-year facility expires February 14, 2005. Both facilities are now secured by certain assets of Solectron and its domestic subsidiaries, including inventory, accounts receivable and equipment.
Together, the facilities provide Solectron with $450 million in available credit. No amounts are currently drawn under either credit facility.
Solectron expects to file amended credit agreements with the SEC as exhibits to its next 10-Q report in April.
Solectron Corp. provides a full range of global manufacturing and supply-chain management services to the world's premier high-tech electronics companies. For more information, visit www.solectron.com.