Nu Horizons gets $80 million asset-based loan led by Wells Fargo

By Sara Rosenberg

New York, June 28 - Nu Horizons Electronics Corp. closed on an $80 million four-year asset-based loan, according to a news release.

Wells Fargo is the administrative agent on the deal.

The current interest rate under the asset-based loan is 4.5%.

There is a $30 million accordion feature.

Proceeds were used to refinance existing debt and will be available for working capital requirements.

Nu Horizons is a Melville, N.Y.-based distributor of advanced technology semiconductor, display, illumination, power, system and telecommunication products.

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