09/10/2024 | Press release | Distributed by Public on 09/10/2024 15:01
Item 1.01. | Entry into a Material Definitive Agreement. |
Amendment of North American Asset Securitization Facility
On September 10, 2024, Arrow Electronics, Inc. (the "Company") entered into Amendment No. 35 (the "Amendment") to that certain Transfer and Administration Agreement dated as of March 21, 2001, by and among the parties from time to time party thereto, which governs the Company's existing domestic accounts-receivables securitization facility (the "North American Asset Securitization Facility"). Pursuant to the Amendment, (i) the maturity of the North American Asset Securitization Facility was extended from September 20, 2025, to September 10, 2027, and (ii) the parties made certain other modifications. The following banks are participating in the North American Asset Securitization Facility: Bank of America, National Association; Mizuho Bank, Ltd.; PNC Bank, National Association; Wells Fargo Bank, N.A.; Truist Bank; and Sumitomo Mitsui Banking Corporation.
The foregoing description of the Amendment does not purport to be complete, and is qualified in its entirety by reference to the full text of the Amendment, which is filed as Exhibit 10.1 to this Current Report on Form 8-K.