Pillsbury represented SYNNEX Corporation, a leading business process services company based in Fremont, California, in the renewal of a credit facility for its Japanese subsidiary. The existing 14 billion Yen facility was increased to 15 billion Yen and extended for three years.

In its press release announcing the transaction, SYNNEX noted that this renewal is the last in a series of successful debt refinancings and new commitments obtained by SYNNEX over its past fiscal year, including: 

  • Obtaining a five-year, $1.8 billion term loan facility as part of the acquisition of Convergys Corporation. For more on that deal, see here.
  • Successfully receiving approval from SYNNEX lenders to align interest rate structure and covenants on an existing $1.7 billion term and revolving credit facility.
  • Establishing interest rate swap agreements totaling $2 billion.

San Francisco Finance partner Philip Tendler led the Pillsbury teams advising SYNNEX. Other team members included: Alexandra Brandt, Russell DaSilva, Aaron Hutman, Sam Iverson, Dania Slim, Andrew Taggart, Paul Thomas, Irina Tsveklova and Victoria Vlahoyiannis.