ARROW ELECTRONICS,INC. (NYSE:ARW) Files An 8-K Entry into a Material Definitive AgreementITEM 1.01. ENTRY INTO A MATERIAL DEFINITIVE AGREEMENT
On June20, 2018 the Registrant, Arrow Electronics,Inc., entered into Amendment No.30 (the “Amendment”) to the Transfer and Administration Agreement governing its existing accounts receivables securitization facility (the “Facility”). to the Amendment, the size of the Facility was increased from $910,000,000 to $1,200,000,000, and the maturity of the Facility was extended from September18, 2019 to June18, 2021. In addition, the Amendment changed the benchmark for interest under the Facility from a CP rate to a one-month LIBOR-based rate, changed the methodology for aging receivables under the Facility from days past invoice to days past due and increased concentration limits for receivables with extended payment terms and from individual domestic and foreign obligors. The following banks are participating in the facility: Bank of America, Mizuho, PNC, Wells Fargo, Sumitomo Mitsui Banking Corporation and Branch Banking and Trust Company.
The above description is a summary only of the Amendment and is qualified in its entirety by the Amendment attached as Exhibit 10.1 to this Current Report on Form 8-K and incorporated herein by reference.
ITEM 2.03. CREATION OF A DIRECT FINANCIAL OBLIGATION OR AN OBLIGATION UNDER AN OFF-BALANCE SHEET ARRANGEMENT OF A REGISTRANT.
The description of the Amendment set forth under Item 1.01 is incorporated into this Item 2.03 by reference.
ITEM 7.01. REGULATION FD DISCLOSURE
On June26, 2018, the Registrant issued a press release regarding the execution of the Amendment.A copy of the press release is furnished with this report as Exhibit99.1. Neither the information in Section7.01 of this Current Report on Form8-K nor the information in the press release shall be deemed “filed” for purposes of Section18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act.
Item 9.01 FINANCIAL STATEMENTS AND EXHIBITS.
(d) Exhibits
ARROW ELECTRONICS INC ExhibitEX-10.1 2 a18-16015_1ex10d1.htm EX-10.1 Exhibit 10.1 Execution Version OMNIBUS AMENDMENT This Omnibus Amendment,…To view the full exhibit click here
About ARROW ELECTRONICS,INC. (NYSE:ARW)
Arrow Electronics, Inc. is a provider of products, services and solutions to industrial and commercial users of electronic components and enterprise computing solutions. The Company has a portfolio of product offerings available from electronic components and enterprise computing solutions suppliers, coupled with a range of services, solutions and tools for industrial and commercial customers. The Company operates in two segments: Global Components and Global Enterprise Computing Solutions. The Company distributes electronic components to original equipment manufacturers and contract manufacturers through its Global Components segment and provides enterprise computing solutions to value-added resellers (VARs) through its Global Enterprise Computing Solutions segment. The Company’s Global Enterprise Computing Solutions segment’s portfolio of computing solutions includes datacenter, cloud, security and analytics solutions.
