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Sanmina Gets Credit Facility

The company will refinance some debt.
Author:

Sanmina-SCI

(SANM) - Get Sanmina-SCI Corporation Report

signed a deal for a $600 million credit facility, according to an 8-K filed with the

Securities and Exchange Commission

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on Tuesday.

The electronics manufacturing services firm entered into a commitment with Bank of America, Citigroup, Deutsche Bank Cayman Islands Branch and Deutsche Bank Securities for a credit loan facility that will mature on Jan. 31, 2008.

Sanmina said it will use the loan to refinance $525 million outstanding principal amount of 3% convertible notes due 2007 issued by SCI Systems, working capital and general business uses.

The deal is subject to conditions including due diligence reviews, relevant documentation and other customary provisions of such financing.

Sanmina shares fell 5 cents in recent trading to $3.91.