Arrow Electronics, Inc. (NYSE:ARW) announced that the company has
amended its credit facility, extending its maturity to December 2018 and
its capacity to $1.5 billion. The credit facility previously matured in
August 2016 and totaled $1.2 billion.
"Our ability to increase the size of our credit facility to $1.5 billion
and extend the maturity reflects the strength of our company," said Paul
J. Reilly, executive vice president, finance and operations, and chief
financial officer. "When combined with our strong cash flows and balance
sheet, the credit facility enhances our financial flexibility to
continue to drive strategic growth."
Arrow Electronics (www.arrow.com)
is a global provider of products, services and solutions to industrial
and commercial users of electronic components and enterprise computing
solutions. Arrow serves as a supply channel partner for more than
100,000 original equipment manufacturers, contract manufacturers and
commercial customers through a global network of more than 470 locations
in 55 countries.
Safe Harbor
The Private Securities Litigation Reform Act of 1995 provides a “safe
harbor” for forward-looking statements. This press release includes
forward-looking statements that are subject to numerous assumptions,
risks and uncertainties that could cause actual results or facts to
differ materially from such statements for a variety of reasons,
including, but not limited to: industry conditions, the company’s
implementation of its new enterprise resource planning system, changes
in product supply, pricing and customer demand, competition, other
vagaries in the global components and global ECS markets, changes in
relationships with key suppliers, increased profit margin pressure, the
effects of additional actions taken to become more efficient or lower
costs, risks related to the integration of acquired businesses, changes
change in legal and regulatory matters, the company’s ability to
generate additional cash flow and the other risks described from time to
time in the company’s reports to the Securities and Exchange Commission
(including the company’s Annual Report on Form 10-K and Quarterly
Reports on Form 10-Q). Forward-looking statements are those statements
which are not statements of historical fact. Forward-looking statements
can be identified by forward looking words such as “expects,”
“anticipates,” “intends,” “plans,” “may,” “will,” “believes,” “seeks,”
“estimates,” and similar expressions. Shareholders and other readers are
cautioned not to place undue reliance on these forward-looking
statements, which speak only as of the date on which they are made. The
company undertakes no obligation to update publicly or revise any of the
forward-looking statements.
Copyright Business Wire 2013