Jabil Circuit enters amendment, providing for $1 billion revolver

By Jennifer Chiou

New York, Dec. 10 - Jabil Circuit Inc. entered into an amended and restated senior unsecured five-year credit agreement on Tuesday, providing for a $1 billion revolving credit facility, according to an 8-K filing with the Securities and Exchange Commission.

The revolver may be increased to up to $1.3 billion. The amendment basically increases and replaces the revolver under the existing facility from $800 million, subject to potential increases up to $1 billion.

Citibank, NA was the administrative agent, JPMorgan Chase Bank, NA was the syndication agent, and the Royal Bank of Scotland plc and Bank of America, NA were the documentation agents.

The revolver will terminate on Dec. 7, 2015.

Interest will accrue at one-month Libor plus 100 basis points.

The 8-K stated that the company has made draws of $300 million under the facility.

The agreement amends and restates Jabil's five-year credit agreement dated July 19, 2007. The agreement also covers a $400 million term loan and was to terminate on July 19, 2012.

The St. Petersburg, Fla.-based electronics company said in the filing that it and some of its subsidiaries have also entered into foreign-exchange contracts and other derivative arrangements with certain of the lenders and their affiliates.

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