FREMONT, Calif., Dec. 4, 2018 /PRNewswire/ -- SYNNEX
Corporation (NYSE: SNX), a leading business process services
company, today announced it has completed the renewal of its SYNNEX
Japan financing. The existing 14 billion
Yen facility was increased to 15
billion Yen and extended for three years to November
2021.
This renewal is the last in a series of successful debt
refinancing and new commitments obtained by SYNNEX over the past
fiscal year, including:
- Obtaining a five-year, $1.8
billion loan commitment, maturing October 2023, as part of the acquisition of
Convergys Corporation.
- Successfully receiving approval from SYNNEX lenders to align
interest rate structure and covenants on existing $1.7 billion term and revolving credit
commitments, maturing September
2022.
- Establishing interest rate swap agreements totaling
$2 billion, thus providing
significant fixed rate coverage over its debt.
"We are very pleased to conclude a positive year in funding for
SYNNEX by completing the SYNNEX Japan refinancing," said
Marshall Witt, Chief Financial
Officer, SYNNEX Corporation. "Considering all of
the refinancing activity and our current cash positions,
we have approximately $2 billion in
liquidity to continue to invest in and grow our
business."
About SYNNEX
SYNNEX Corporation (NYSE: SNX) is a Fortune 200 corporation and
a leading business process services company, providing a
comprehensive range of distribution, logistics and integration
services for the technology industry and providing outsourced
services focused on customer engagement to a broad range of
enterprises. SYNNEX distributes a broad range of information
technology systems and products, and also provides systems design
and integration solutions. Founded in 1980, SYNNEX Corporation
operates in numerous countries throughout North and South America, Asia-Pacific and Europe. Additional
information about SYNNEX may be found online at www.synnex.com.
About Concentrix
Concentrix, a wholly-owned subsidiary of SYNNEX Corporation
(NYSE: SNX), is a technology-enabled global business services
company specializing in customer engagement and improving business
performance for some of the world's best brands. Every day, from
more than 40 countries and across 6 continents, our staff delivers
next generation customer experience and helps companies better
connect with their customers. We create better business outcomes
and help differentiate our clients through technology, design,
data, process, and people. Concentrix provides services to clients
in ten industry verticals: automotive; banking and financial
services; insurance; healthcare; technology; consumer electronics;
media and communications; retail and e-commerce; travel and
transportation; energy and public-sector. We are Different by
Design. Visit http://www.concentrix.com to learn more.
Safe Harbor Statement
Statements in this news release regarding SYNNEX Corporation
that 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. These
forward-looking statements may be identified by terms such as
believe, foresee, expect, may, will, provide, could and should and
the negative of these terms or other similar expressions. These
statements, including statements regarding our belief as to our
positioning in future periods and our uses of cash, are subject to
risks and uncertainties that could cause actual results to differ
materially from those discussed in the forward-looking
statements. SYNNEX Corporation assumes no obligation to
update information contained in this press release.
Copyright 2018 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.
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SOURCE SYNNEX Corporation