Nu Horizons enters into $150 million revolver

By Jennifer Chiou

New York, Feb. 2 - Nu Horizons Electronics Corp. announced that it entered a new secured revolving credit agreement with eight banks to provide for up to $150 million of borrowings.

"We expect that this new U.S. credit facility, together with our new $30 million credit facility supporting our Asian operations, will provide the cash flow flexibility for Nu Horizons Electronics Corp. to continue to grow its business," chairman and chief executive officer Arthur Nadata said in a news release.

Citibank, NA was the administrative agent.

The Melville, N.Y.-based company is a distributor of semiconductor and passive electronic components.

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