Avnet Inc: amends credit agreement, increases commitments by $1,000,000,000

What happened Avnet, Inc. reported that on Oct 13, 2026 it entered into Amendment No. 3 to the Third Amended and Restated Credit Agreement dated Jan 17, 2025. The Amendment increases the aggregate commitments under the Credit Agreement by $1,000,000,000 to a total commitment amount of $2,750,000,000 and eliminates the SOFR credit spread adjustment to the interest rate.

Key details

• The Amendment increases the maximum additional commitments that can be requested by the company to $1,000,000,000.
• The administrative agent is Bank of America, N.A., and the Amendment is among Avnet, Inc., Avnet Holding Europe BV and the lenders party thereto.
• The Amendment removes the SOFR credit spread adjustment to the interest rate.
• The Amendment was dated Oct 13, 2026 and is filed as Exhibit 10.1 to the Form 8-K.

Why it may matter

• Item 1.01 (Entry into a material definitive agreement) was reported; this item covers the company entering into Amendment No. 3 to its existing credit agreement.
• Item 2.03 (Creation of a direct financial obligation) was reported; the disclosure relating to the creation or modification of the company’s financial obligations is provided in connection with the Amendment.

This filing does not show why the insider traded or why the company acted.