Avnet Inc. Modifies Credit Agreements, Temporarily Increases Leverage Ratio and Adjusts Payment Restrictions
Avnet Inc. has announced amendments to its existing corporate loan agreements with Bank of America, N.A., acting as the administrative agent, and other participating lenders. Effective August 28, 2025, these amendments temporarily adjust the maximum consolidated leverage ratio from 4.00 to 1.00, increasing it to 5.00 to 1.00 through March 31, 2026, and subsequently to 4.50 to 1.00 until June 30, 2026, before returning to the original ratio by September 30, 2026. During this Relief Period, Avnet is restricted from making certain payments but is permitted to maintain its regular cash dividends and repurchase up to $100 million of its common stock. These changes provide Avnet with greater financial flexibility while maintaining essential shareholder returns.
Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Avnet Inc. published the original content used to generate this news brief via EDGAR, the Electronic Data Gathering, Analysis, and Retrieval system operated by the U.S. Securities and Exchange Commission (Ref. ID: 0000008858-25-000043), on August 28, 2025, and is solely responsible for the information contained therein.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.