SYNNEX Successfully Completes Last Debt Financing of 2018
Well Positioned for Fiscal 2019 and Beyond
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.
SOURCE SYNNEX Corporation
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