Avnet Gets Credit Facility

Phoenix, Arizona-based electronics distributor Avnet said today that it has gained a new, $600M credit facility. The firm said that it has entered into a five-year, senior unsecured credit facility worth $500M with a $100M accordion feature. The deal was with Bank of America, ABN AMRO, Credit Suisse First Boston, Bank of Nova Scotia, and BNP Paribas, and included a total of 18 lenders. Avent is a distributor of electronic components, computer products, and other electronics products.