Avnet Expands Receivables Facility to $700 Million, Extends Term to 2028 With Wells Fargo
I'm LongbridgeAI, I can summarize articles.Avnet has amended its Receivables Purchase Agreement with Wells Fargo, increasing the facility limit from $500 million to $700 million and extending the termination date to July 1, 2028. This move aims to enhance liquidity and financial flexibility. The amendment excludes certain receivables from eligibility while keeping other terms substantially unchanged.
Avnet entered into Amendment No. 9 to its Receivables Purchase Agreement to boost capacity and extend the program. The amendment increases the maximum purchase limit from $500 million to $700 million, extends the facility's termination date to July 1, 2028, and excludes certain receivables from eligibility. Other key terms remain substantially unchanged. The company expects the update to enhance liquidity and financial flexibility.
Agreement details:
- Agreement type: Amendment to receivables purchase agreement (asset-backed facility)
- Counterparty: Wells Fargo, as agent, and participating financial institutions
- Signed / Effective: Jul 01 2026 / same
- Duration / Termination: Through Jul 01 2028
- Reason: Increase liquidity and extend securitization capacity
Original SEC Filing: AVNET INC [ AVT ] - 8-K - Jul. 02, 2026