Flextronics gets $2 billion revolver

By Sara Rosenberg

New York, May 15 - Flextronics International Ltd. closed on a new $2 billion revolving credit facility due May 10, 2012, according to an 8-K filed with the Securities and Exchange Commission Tuesday.

Bank of America and The Bank of Nova Scotia acted as joint lead arrangers and joint bookrunners on the deal that was completed on May 10, with Bank of America the administrative agent, Bank of Nova Scotia as syndication agent, and Bank of China, BNP Paribas, Fortis Capital Corp., Keybank, Mizuho Corporate Bank and Sumitomo Mitsui Banking Corp. as co-documentation agents.

Pricing on the loan can range from Libor plus 50 to 125 basis points, based on ratings. The commitment fee ranges from 10 bps to 20 bps.

The new facility replaces the company's existing $1.35 billion credit facility.

Flextronics is a Singapore-based provider of design and electronics manufacturing services to original equipment manufacturers.

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