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AVT > SEC Filings for AVT > Form 8-K on 21-Aug-2014All Recent SEC Filings

Show all filings for AVNET INC

Form 8-K for AVNET INC


Entry into a Material Definitive Agreement, Creation of a Direct Financial Obligation o

Item 1.01 Entry into a Material Definitive Agreement.

On August 21, 2014, Avnet, Inc., a New York corporation ("Avnet") and Avnet Receivables Corporation, a Delaware corporation and wholly owned subsidiary of Avnet, entered into Amendment No. 6 (the "Amendment") to the Second Amended and Restated Receivables Purchase Agreement, with each of the entities party thereto identified as a Financial Institution, each of the entities party thereto indentified as a Company and JPMorgan Chase Bank, N.A., as agent. Among other revisions, the Amendment (i) increases the amount of eligible receivables in which Avnet may sell an undivided interest, on a revolving basis, under the accounts receivable securitization program from $800 million to $900 million and
(ii) extends the expiration date of the accounts receivable program to August 19, 2016. Some or all of the parties to the accounts receivable securitization program, or their affiliates, have in the past provided investment or commercial banking services to Avnet and its affiliates for which they received customary fees and expenses and they may provide similar services in the future. The summary of the Amendment described above is qualified in its entirety by reference to the Amendment, which is attached hereto as Exhibit 10.1 and incorporated herein by reference.

Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.

The information set forth in Item 1.01 above is hereby incorporated by reference herein in its entirety.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits.

Number Description

10.1 Amendment No. 6 to the Second Amended and Restated Receivables Purchase Agreement.

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