TD Synnex Corporation
TD SYNNEX Amends Trade Receivables Securitization Program
Summary
On December 12, 2024, TD SYNNEX Corporation, along with its subsidiary SIT Funding LLC and other parties, amended its Trade Receivables Securitization program by entering into the Fifth Omnibus Amendment to the Fifth Amended and Restated Receivables Funding and Administration Agreement and the Third Amended and Restated Receivables Sale and Servicing Agreement. The amendment extends the maturity date of the securitization to November 30, 2026, and involves the removal of AVT Technology Solutions LLC as an originator, with the repurchase of its outstanding receivables by SIT Funding LLC. Additionally, SIT Funding LLC converted from a Delaware corporation to a Delaware limited liability company and changed its name to SIT Funding LLC. The amendment also includes various changes relating to this conversion.
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About TD Synnex Corporation
TD Synnex Corporation is a global leader in business process services, specializing in the distribution of technology products and services. The company's primary function is to provide comprehensive supply chain solutions, acting as a vital conduit between technology manufacturers and end-users across various sectors, including IT, education, healthcare, and government. TD Synnex plays a critical role in ensuring the efficient movement of technology products from production to market, thereby enhancing the scalability and reach of its vendor partners. The company offers a broad array of value-added services, such as logistics, integration, and financial services, thus facilitating optimized technology solutions for its clientele. Headquartered in Florida, TD Synnex operates across multiple continents, cementing its market significance as a reliable partner in the ever-evolving tech distribution landscape. It significantly impacts the technology ecosystem by enabling and accelerating access to innovative products and solutions worldwide, thus serving as a backbone for technology deployment in diverse industries.
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