---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-22-128735"
form_type: "8-K"
ticker: "AVT"
cik: "0000008858"
company_name: "AVNET INC"
filed_at: "2022-12-21T23:59:59+00:00"
generated_at: "2026-06-21T01:16:16.916727+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.35
calibrated_materiality_score: 0.35
confidence: "high"
source: SEC EDGAR
---

# Avnet increases receivables purchase facility limit from $450M to $650M, extends to Dec 2024

## Summary
- Maximum purchase limit increased from $450 million to $650 million.
- Termination date extended to December 16, 2024.
- Daily Term SOFR-based benchmark interest rate implemented.
- Eligibility criteria for receivables amended.
- Other terms of the agreement remain substantially unchanged.

## SEC filing metadata
- accession: 0001104659-22-128735
- form_type: 8-K
- ticker: AVT
- cik: 0000008858
- company_name: AVNET INC
- filed_at: 2022-12-21T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.35
- calibrated_materiality_score: 0.35
- confidence: high
- sec_items: 1.01, 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/8858/000110465922128735/0001104659-22-128735-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/8858/000110465922128735/tm2233169d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-22-128735
- JSON: https://secwatch.observer/filing/0001104659-22-128735.json
- Plain text: https://secwatch.observer/filing/0001104659-22-128735.txt

## Key facts
- Debt Financings
  AVNET INC amended debt of $650,000,000 with Wells Fargo Bank, N.A., as agent for the purchasers at daily Term SOFR-based benchmark interest rate maturing December 16, 2024.
  - Principal: $650,000,000
  - Counterparty: Wells Fargo Bank, N.A., as agent for the purchasers
  - Rate: daily Term SOFR-based benchmark interest rate
  - Maturity: December 16, 2024
  - Event: amendment
  source text: The Amendment, which amended Avnet's existing Fourth Amended and Restated Receivables Purchase Agreement, dated as of August 16, 2018 (as amended, modified and supplemented, the “Receivables Purchase Agreement”), provides for, among other things, (i) an increase in the maximum purchase limit under the Receivables Purchase Agreement from $450,000,000 to $650,000,000, (ii) the implementation of a daily Term SOFR-based benchmark interest rate, (iii) amendments to the qualifications for eligible receivables under the Receivables Purchase Agreement, and (iv) extending the termination date to December 16, 2024.
  evidence_url: https://www.sec.gov/Archives/edgar/data/8858/000110465922128735/0001104659-22-128735-index.htm
- Material Agreements
  AVNET INC amended Fourth Amended and Restated Receivables Purchase Agreement with Wells Fargo Bank, N.A. valued at $650,000,000 (effective 2022-12-16).
  - Action: amendment
  - Agreement: credit facility
  - Counterparty: Wells Fargo Bank, N.A.
  - Value: $650,000,000
  - Effective: 2022-12-16
  source text: On December 16, 2022, Avnet, Inc. (“Avnet”) and Avnet Receivables Corporation, a wholly owned subsidiary of Avnet (“ARC”), entered into an Amendment No. 6 (the “Amendment”) to the Fourth Amended and Restated Receivables Purchase Agreement with Wells Fargo Bank, N.A., as agent for the purchasers (the “Agent”), and the companies and financial institutions party thereto (collectively, the “Purchasers”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/8858/000110465922128735/0001104659-22-128735-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.