ScanSource, Inc. (NASDAQ:SCSC) Files An 8-K Entry into a Material Definitive Agreement
Item1.01. Entry Into a Material Agreement.
On April3, 2017, ScanSource, Inc., together with certain of its
subsidiaries, entered into an Amendment (the Amendment) to its
Amended and Restated Credit Agreement with JPMorgan Chase Bank,
N.A. as Administrative Agent, and certain lenders named therein
(the Agreement).
Among other things, the Amendment extends the maturity of its
$300 million multi-currency senior secured revolving credit
facility to April3, 2022. Under the amended facility, ScanSource
may request to increase its borrowings up to a total of $500
million, subject to obtaining additional credit commitments from
the lenders participating in the increase. The Amendment also
modifies various administrative and regulatory provisions and
various other financial covenants. The Amendment establishes the
rate spreads, which range from 1.00% to 2.125% for LIBOR-based
loans and 0% to 1.125% for alternate base rate loans, and the
commitment fees, which range from 0.175% to 0.35%.
JP Morgan Chase Bank, N.A. acts as the Administrative Agent under
the Agreement, TD Bank, N.A. and Bank of America, N.A. act as
Co-Syndication Agents, and JP Morgan Chase Bank, N.A., TD Bank,
N.A., and Merrill Lynch, Pierce, Fenner Smith Incorporated act as
Joint Lead Arrangers and Joint Bookrunners.
The foregoing description is qualified by reference to the full
and complete terms of the Agreement as amended by the Amendment,
which is filed as Exhibit 10.1 to this Current Report on Form 8-K
and incorporated herein by reference.
Item9.01. Financial Statements and Exhibits.
| (d) | Exhibits |
| ExhibitNumber |
Description |
|
|
10.1 |
Amended and Restated Credit Agreement (as amended) |
About ScanSource, Inc. (NASDAQ:SCSC)
ScanSource, Inc. is a provider of technology products and solutions. The Company and its subsidiaries provide solutions for technology manufacturers and sell to resellers in technology markets, such as point-of-sale (POS) and Barcode, Networking and Security, Communications and Emerging Technologies. It operates through two segments: Worldwide Barcode & Security and Worldwide Communications & Services. The Barcode & Security distribution segment focuses on automatic identification and data capture (AIDC), POS, electronic physical security and three dimensional (3D) printing technologies. The Communications & Services distribution segment focuses on communications technologies and services. As of June 30, 2016, the Company marketed over 100,000 products from approximately 400 hardware and software vendors to approximately 35,000 reseller customers from distribution centers in Mississippi, Virginia, Florida, Mexico, Colombia, Brazil, Belgium, France, Germany and the United Kingdom. ScanSource, Inc. (NASDAQ:SCSC) Recent Trading Information
ScanSource, Inc. (NASDAQ:SCSC) closed its last trading session down -0.50 at 37.75 with 102,953 shares trading hands.