Market Snapshot
  • U.S.
  • Europe
  • Asia
Ticker Volume Price Price Delta
DJIA 16,353.76 91.20 0.56%
S&P 500 1,853.35 10.37 0.56%
NASDAQ 4,055.21 21.05 0.52%
Ticker Volume Price Price Delta
STOXX 50 3,128.28 36.76 1.19%
FTSE 100 6,576.20 34.59 0.53%
DAX 9,279.45 105.74 1.15%
Ticker Volume Price Price Delta
NIKKEI 14,417.68 420.87 3.01%
TOPIX 1,166.55 30.46 2.68%
HANG SENG 22,696.01 24.75 0.11%

SYNNEX Corporation Announces Completion of New Financing Arrangements



  SYNNEX Corporation Announces Completion of New Financing Arrangements

    SYNNEX Integration of IBM’s $1.2billion+ CRM BPO Business is On Track

SYNNEX Anticipates the Initial Closing to Occur in the First Calendar Quarter
                                   of 2014

Business Wire

FREMONT, Calif. -- November 27, 2013

SYNNEX Corporation (NYSE: SNX), a leading business process services company,
is pleased to announce the completion of a new financing arrangement to fund
the acquisition of IBM’s customer relationship management business as well as
SYNNEX’ general working capital requirements.

SYNNEX has entered into a credit agreement with a group of commercial banks
which provides for the extension of a revolving credit facility of $275
million and a term loan of $225 million. Under the credit agreement, SYNNEX
has the ability to request an increase in the amount of the revolving facility
and/or term loan by an aggregate maximum principal amount of up to $125
million. The credit agreement announced today replaces SYNNEX’ prior $100
million revolving credit agreement originally dated November 12, 2010. Both
the revolving credit facility and term loan extended under the new credit
agreement will mature in November 2018. In connection with the new credit
agreement, Bank of America, N.A. is acting as administrative and the Bank of
Nova Scotia and the Royal Bank of Scotland acted as co-syndication agents.

SYNNEX anticipates the initial closing of the acquisition to occur in the
first calendar quarter of 2014. Approximately 90 percent of the incoming
employees from IBM will be included in this initial closing.

About SYNNEX

SYNNEX Corporation (NYSE: SNX), a Fortune 500 corporation, is a leading
business process services company, servicing resellers, retailers and original
equipment manufacturers in multiple regions around the world. The Company
provides services in IT distribution, supply chain management, contract
assembly and business process outsourcing. Founded in 1980, SYNNEX employs
approximately 14,000 full-time and part-time associates worldwide. Additional
information about SYNNEX may be found online at www.synnex.com.

Safe Harbor Statement

Statements in this press release regarding SYNNEX Corporation, which are not
historical facts, are "forward-looking statements" within the meaning of
Section 27A of the Securities Act of 1933 and Section 21E of the Securities
Exchange Act of 1934. Certain statements in this filing including, but not
limited to, statements regarding the anticipated uses of the new financing
arrangement; the expected timing of the completion of the acquisition; the
anticipated increase in employees following the initial closing of the
acquisition; the ability to complete the acquisition and any statements of
assumptions underlying any of the foregoing are forward-looking statements
within the meaning of the Private Securities Reform Act of 1995 that are
subject to risks and uncertainties that could cause results to be materially
different than expectations. Such risks and uncertainties include, but are not
limited to, the risk that the acquisition will not be consummated; failure to
receive regulatory approval for the acquisition; risks associated with the
acquisition including the ability to successfully integrate employees and
operations; diversion of management’s attention; retaining key employees;
risks associated with international operations; and other risks detailed from
time to time in the reports SYNNEX files with the Securities and Exchange
Commission including SYNNEX’ Form 10-K for the year ended November 30, 2012
and Form 10-Q for the quarter ended August 31, 2013. Copies of reports SYNNEX
filed with the SEC are posted on its Web site and are available from SYNNEX
without charge. These forward-looking statements are not guarantees of future
performance and speak only as of the date hereof, and, except as required by
law, SYNNEX disclaims any obligation to update these forward-looking
statements to reflect future events or circumstances.

Copyright 2013 SYNNEX Corporation. All rights reserved. SYNNEX, the SYNNEX
Logo, CONCENTRIX and all other SYNNEX company, product and services names and
slogans are trademarks or registered trademarks of SYNNEX Corporation. SYNNEX,
the SYNNEX Logo and CONCENTRIX Reg. U.S. Pat. & Tm. Off. Other names and marks
are the property of their respective owners.

SNX-F

Contact:

SYNNEX Corporation
Deirdre Skolfield, CFA, 510-668-3715
Investor Relations
deirdres@synnex.com
Sponsored Links
Advertisement
Advertisements
Sponsored Links
Advertisement