Flextronics closes upsized $2 billion five-year revolver, term loan

By Susanna Moon

Chicago, Oct. 20 - Flextronics International Ltd. closed an upsized $2 billion five-year unsecured credit facility on Wednesday, consisting of a $1.5 billion revolving credit facility and a $500 million term loan.

As reported on Oct. 5, Flextronics was looking to get a new $1.5 billion unsecured credit facility that was talked at Libor plus 175 basis points.

The company originally looked at getting a $1 billion revolver and a $500 million term loan A, a market source previously said.

Bank of America Merrill Lynch was to be the lead bank on the deal.

The new agreement replaces the company's $2 billion revolver and its existing term loan facility set to mature in October 2012, according to the company's earnings release for the second quarter ended Sept. 30.

Pricing was not included in the release.

Flextronics is a Singapore-based electronics manufacturing services provider.

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