Avnet extends receivables securitization to Aug 2023, cuts borrowing spread by 30 bps

AVNET INC

Extended term of trade receivables securitization program to August 31, 2023 from prior expiry of August 31, 2021.
Reduced applicable spread on borrowings from 1.05% to 0.75%, a decrease of 30 basis points.
Lowered unused fee rate from a range of 0.30%-0.40% to 0.25%-0.35%, depending on outstanding amounts.
Amendment involves Avnet Receivables Corp., Avnet Inc., and Wells Fargo Bank as agent.

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