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 <P STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:0pt;border-bottom:1px solid #000000">&nbsp;</P>
<P STYLE="line-height:3.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000">&nbsp;</P> <P STYLE="margin-top:4pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>UNITED STATES </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>SECURITIES AND EXCHANGE COMMISSION </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>Washington, D.C. 20549 </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>FORM 8-K
</B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center> <P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>CURRENT REPORT </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>Pursuant
to Section&nbsp;13 or 15(d) of the </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>Securities Exchange Act of 1934 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>Date of Report (Date of Earliest Event Reported): November&nbsp;27, 2013 </B></P>
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<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:24pt; font-family:Times New Roman" ALIGN="center"><B>SYNNEX CORPORATION </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>(Exact name of registrant as specified in its charter) </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD VALIGN="top" ALIGN="center"><B>Delaware</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"><B>001-31892</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"><B>94-2703333</B></TD></TR>
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<TD VALIGN="top" ALIGN="center"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(State or Other Jurisdiction</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>of Incorporation)</B></P></TD>
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<TD VALIGN="top" ALIGN="center"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(Commission</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>File Number)</B></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(I.R.S. Employer</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>Identification Number)</B></P></TD></TR>
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<TD VALIGN="top" COLSPAN="3" ALIGN="center"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>44201 Nobel Drive</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Fremont, California</B></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center"><B>94538</B></TD></TR>
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<TD VALIGN="top" COLSPAN="3" ALIGN="center"><B>(Address of principal executive offices)</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"><B>(Zip Code)</B></TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>(510) 656-3333</B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(Registrant&#146;s telephone number including area code) </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>N/A </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(Former name or
former address, if changed since last report.) </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Check the appropriate box below
if the Form&nbsp;8-K filing is intended to simultaneously satisfy the filing obligations of the registrant under any of the following provisions (see General Instruction&nbsp;A.2. below): </P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD ALIGN="left" VALIGN="top">Written communications pursuant to Rule&nbsp;425 under the Securities Act (17 CFR 230.425) </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#168;</FONT></TD>
<TD ALIGN="left" VALIGN="top">Soliciting material pursuant to Rule&nbsp;14a-12 under the Exchange Act (17 CFR 240.14a-12) </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#168;</FONT></TD>
<TD ALIGN="left" VALIGN="top">Pre-commencement communications pursuant to Rule&nbsp;14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD ALIGN="left" VALIGN="top">Pre-commencement communications pursuant to Rule&nbsp;13e-4(c) under the Exchange Act (17 CFR 240-13e-4(c)) </TD></TR></TABLE> <P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:0pt;border-bottom:1px solid #000000">&nbsp;</P> <P STYLE="line-height:3.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000">&nbsp;</P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Item&nbsp;1.01. Entry into a Material Definitive Agreement. </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">On November&nbsp;27, 2013, SYNNEX Corporation (&#147;SYNNEX&#148;) announced that it has entered into a Credit Agreement (the &#147;Credit Agreement&#148;)
with the lenders party thereto, Bank of America, N.A., as administrative agent, and certain United States subsidiaries (&#147;Domestic Subsidiaries&#148;) of SYNNEX, as guarantors, dated as of November&nbsp;27, 2013. The Credit Agreement provides
for the extension of revolving loans (&#147;Revolving Loans&#148;) in an aggregate principal amount not to exceed $275.0 million and a term loan (&#147;Term Loan&#148;) in an aggregate principal amount not to exceed $225.0 million. SYNNEX may
request incremental commitments to increase the amount of Revolving Loans or Term Loans available under the Credit Agreement in an aggregate principal amount not to exceed $125.0 million. Unless an incremental commitment to increase the Term Loan or
provide a new term loan matures at an earlier or a later date, the obligations under the Credit Agreement mature on November&nbsp;27, 2018. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Loans
borrowed under the Credit Agreement bear interest, in the case of LIBOR rate loans, at a per annum rate equal to the applicable LIBOR rate, plus the Applicable Rate (as defined in the Credit Agreement), which may range from 1.75% to 2.25%, based on
SYNNEX&#146; Consolidated Leverage Ratio (as defined in the Credit Agreement). Loans borrowed under the Credit Agreement that are not LIBOR rate loans bear interest at a per annum rate equal to (i)&nbsp;the greatest of (A)&nbsp;the Federal Funds
Rate plus 1/2 of 1.0%, (B)&nbsp;the LIBOR rate plus 1.0%&nbsp;per annum, and (C)&nbsp;the rate of interest announced, from time to time, by Bank of America., N.A. as its &#147;prime rate,&#148; plus (ii)&nbsp;the Applicable Rate, which may range
from 0.75% to 1.25%, based on SYNNEX&#146; Consolidated Leverage Ratio. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The Credit Agreement contains various loan covenants that restrict the ability of
SYNNEX and its subsidiaries to take certain actions, including, incurrence of indebtedness, creation of liens, mergers or consolidations, dispositions of assets, repurchase or redemption of capital stock, making certain investments, entering into
certain transactions with affiliates or changing the nature of their business. In addition, the Credit Agreement contains financial covenants which require SYNNEX to maintain a Consolidated Leverage Ratio in an amount not to exceed 3.50 to 1.0 and a
Consolidated Fixed Charge Coverage Ratio (as defined in the Credit Agreement) in an amount not less than 1.20 to 1.0 through SYNNEX&#146; fiscal year ending in 2015; thereafter, SYNNEX must maintain a Consolidated Fixed Charge Coverage Ratio in an
amount not less than 1.25 to 1.0. SYNNEX&#146; obligations under the Credit Agreement are secured by substantially all of its and certain of its Domestic Subsidiaries&#146; assets and are guaranteed by certain of its Domestic Subsidiaries. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The foregoing description of the Credit Agreement is qualified in its entirety by reference to the Credit Agreement which is attached hereto as Exhibit 10.1,
and incorporated by reference herein. The full text of the press release is attached as Exhibit 99.1 to this report and incorporated herein by reference. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Amendment of a Material Definitive Agreement </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Concurrently with SYNNEX&#146; entry into the Credit Agreement described above, SYNNEX and its subsidiary, SIT Funding Corporation amended SYNNEX&#146;
accounts receivable securitization program (the &#147;U.S. Agreement&#148;) by entering into a Second Omnibus Amendment to Fourth Amended and Restated Receivables Funding and Administration Agreement and Third Amended and Restated Receivables Sale
and Servicing Agreement (the &#147;Securitization Amendment&#148;) with The Bank of Nova Scotia, as agent, and the other lenders party thereto. Among other things, the Securitization Amendment provides for the entry into of the Credit Agreement and
amends certain covenants and representations and warranties to make them consistent with the Credit Agreement. Further, in connection with the Securitization Amendment, the effective borrowing cost under the U.S. Arrangement was also modified to be
a blended rate that includes prevailing dealer commercial paper rates and the daily LIBOR rate, plus a program fee of 0.425%&nbsp;per annum based on the used portion of the commitment, and a facility fee of 0.425%&nbsp;per annum payable on the
aggregate commitment of the lenders. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The foregoing description of the Securitization Amendment is qualified in its entirety by reference to the
Securitization Amendment which is attached hereto as Exhibit 10.2, and incorporated by reference herein. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Item&nbsp;1.02. Termination of a Material
Definitive Agreement. </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Concurrently with SYNNEX&#146; entry into the Credit Agreement described in Item&nbsp;1.01 above, SYNNEX paid in full and
terminated its existing Fourth Amended and Restated Credit Agreement dated as of November&nbsp;12, 2010 (as amended) among SYNNEX and Bank of America, N.A. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">2 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Item&nbsp;2.03. Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet
Arrangement of a Registrant. </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The information required to be disclosed under this Item&nbsp;2.03 is set forth in Item&nbsp;1.01 above and is
incorporated by reference. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Item&nbsp;8.01. Other Events. </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">As previously announced, on September&nbsp;10, 2013, SYNNEX entered into a Master Asset Purchase Agreement, by and between SYNNEX and International Business
Machines Incorporated, a New York corporation (&#147;IBM&#148;), pursuant to which SYNNEX will acquire certain assets of IBM (the &#147;Acquisition&#148;). SYNNEX anticipates the initial closing of the Acquisition to occur in the first calendar
quarter of 2014. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Note on Forward-Looking Statements </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Certain statements in this filing including, but not limited to, statements regarding the expected timing of the completion of the acquisition; the ability to
complete the acquisition and any statements of assumptions underlying any of the foregoing are forward-looking statements within the meaning of the Private Securities Reform Act of 1995 that are subject to risks and uncertainties that could cause
results to be materially different than expectations. Such risks and uncertainties include, but are not limited to, the risk that the acquisition will not be consummated; failure to receive regulatory approval for the acquisition; risks associated
with the acquisition including the ability to successfully integrate employees and operations; diversion of management&#146;s attention; retaining key employees; risks associated with international operations; and other risks detailed from time to
time in the reports SYNNEX files with the Securities and Exchange Commission including SYNNEX&#146; Form 10-K for the year ended November&nbsp;30,&nbsp;2012 and Form 10-Q for the quarter ended August&nbsp;31, 2013. Copies of reports SYNNEX filed
with the SEC are posted on its Web site and are available from SYNNEX without charge. These forward-looking statements are not guarantees of future performance and speak only as of the date hereof, and, except as required by law, SYNNEX disclaims
any obligation to update these forward-looking statements to reflect future events or circumstances. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Item&nbsp;9.01. Financial Statements and
Exhibits. </B></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="4%" VALIGN="top" ALIGN="left">(d)</TD>
<TD ALIGN="left" VALIGN="top">Exhibits. </TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD VALIGN="bottom" NOWRAP ALIGN="center"> <P STYLE="border-bottom:1.00pt solid #000000; width:39.10pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>Exhibit&nbsp;No.</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP> <P STYLE="border-bottom:1.00pt solid #000000; width:39.50pt; font-size:8pt; font-family:Times New Roman"><B>Description</B></P></TD></TR>


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<TD VALIGN="top" NOWRAP>10.1</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Credit Agreement dated as of November&nbsp;27, 2013, by and among the Registrant, the subsidiaries of the Registrant named therein, the lender signatories thereto from time to time, and Bank of America, N.A.</TD></TR>
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<TD VALIGN="top" NOWRAP>10.2</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Second Omnibus Amendment to Fourth Amended and Restated Receivables Funding and Administration Agreement and Third Amended and Restated Receivables Sales and Service Agreement dated as of November&nbsp;27, 2013, by and among the
Registrant, SIT Funding Corporation, the lenders party thereto and The Bank of Nova Scotia.</TD></TR>
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<TD VALIGN="top" NOWRAP>99.1</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Press release dated November 27, 2013.</TD></TR>
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 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">3 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>SIGNATURE </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by
the undersigned hereunto duly authorized. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Dated: November&nbsp;27, 2013 </P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV ALIGN="right">
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<TD VALIGN="top" COLSPAN="3">SYNNEX CORPORATION</TD></TR>
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<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman" ALIGN="center">/s/ Simon Y. Leung</P></TD></TR>
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<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="center">Simon Y. Leung</TD></TR>
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<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="center">Senior&nbsp;Vice&nbsp;President,&nbsp;General&nbsp;Counsel&nbsp;and</TD></TR>
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<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="center">Corporate Secretary</TD></TR>
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 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">4 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>EXHIBIT INDEX </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD VALIGN="bottom" NOWRAP ALIGN="center"> <P STYLE="border-bottom:1.00pt solid #000000; width:39.10pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>Exhibit&nbsp;No.</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP> <P STYLE="border-bottom:1.00pt solid #000000; width:39.50pt; font-size:8pt; font-family:Times New Roman"><B>Description</B></P></TD></TR>


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<TD VALIGN="top" NOWRAP>10.1</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Credit Agreement dated as of November 27, 2013, by and among the Registrant, the subsidiaries of the Registrant named therein, the lender signatories thereto from time to time, and Bank of America, N.A.</TD></TR>
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<TD VALIGN="top" NOWRAP>10.2</TD>
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<TD VALIGN="top">Second Omnibus Amendment to Fourth Amended and Restated Receivables Funding and Administration Agreement and Third Amended and Restated Receivables Sales and Service Agreement dated as of November 27, 2013, by and among the
Registrant, SIT Funding Corporation, the lenders party thereto and The Bank of Nova Scotia.</TD></TR>
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<TD VALIGN="top" NOWRAP>99.1</TD>
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<TD VALIGN="top">Press release dated November 27, 2013.</TD></TR>
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{"company-data": {"conformed-name": "SYNNEX CORP", "cik": "0001177394", "assigned-sic": "5045", "irs-number": "942703333", "state-of-incorporation": "DE", "fiscal-year-end": "1130"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "001-31892", "film-number": "131248454"}, "business-address": {"street1": "44201 NOBEL DRIVE", "city": "FREMONT", "state": "CA", "zip": "94538", "phone": "5106563333"}, "mail-address": {"street1": "44201 NOBEL DRIVE", "city": "FREMONT", "state": "CA", "zip": "94538"}, "former-company": {"former-conformed-name": "SYNNEX INFORMATION TECHNOLOGIES INC", "date-changed": "20020715"}}
8-K
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant
to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of Earliest Event Reported): November 27, 2013
SYNNEX CORPORATION
(Exact name of registrant as specified in its charter)
Delaware
001-31892
94-2703333
(State or Other Jurisdiction
of Incorporation)
(Commission
File Number)
(I.R.S. Employer
Identification Number)
44201 Nobel Drive
Fremont, California
94538
(Address of principal executive offices)
(Zip Code)
(510) 656-3333
(Registrant's telephone number including area code)
N/A
(Former name or
former address, if changed since last report.)
Check the appropriate box below
if the Form 8-K filing is intended to simultaneously satisfy the filing obligations of the registrant under any of the following provisions (see General Instruction A.2. below):
¨
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
¨
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
¨
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
¨
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240-13e-4(c))
Item 1.01. Entry into a Material Definitive Agreement.
On November 27, 2013, SYNNEX Corporation ("SYNNEX") announced that it has entered into a Credit Agreement (the "Credit Agreement")
with the lenders party thereto, Bank of America, N.A., as administrative agent, and certain United States subsidiaries ("Domestic Subsidiaries") of SYNNEX, as guarantors, dated as of November 27, 2013. The Credit Agreement provides
for the extension of revolving loans ("Revolving Loans") in an aggregate principal amount not to exceed $275.0 million and a term loan ("Term Loan") in an aggregate principal amount not to exceed $225.0 million. SYNNEX may
request incremental commitments to increase the amount of Revolving Loans or Term Loans available under the Credit Agreement in an aggregate principal amount not to exceed $125.0 million. Unless an incremental commitment to increase the Term Loan or
provide a new term loan matures at an earlier or a later date, the obligations under the Credit Agreement mature on November 27, 2018.
Loans
borrowed under the Credit Agreement bear interest, in the case of LIBOR rate loans, at a per annum rate equal to the applicable LIBOR rate, plus the Applicable Rate (as defined in the Credit Agreement), which may range from 1.75% to 2.25%, based on
SYNNEX' Consolidated Leverage Ratio (as defined in the Credit Agreement). Loans borrowed under the Credit Agreement that are not LIBOR rate loans bear interest at a per annum rate equal to (i) the greatest of (A) the Federal Funds
Rate plus 1/2 of 1.0%, (B) the LIBOR rate plus 1.0% per annum, and (C) the rate of interest announced, from time to time, by Bank of America., N.A. as its "prime rate," plus (ii) the Applicable Rate, which may range
from 0.75% to 1.25%, based on SYNNEX' Consolidated Leverage Ratio.
The Credit Agreement contains various loan covenants that restrict the ability of
SYNNEX and its subsidiaries to take certain actions, including, incurrence of indebtedness, creation of liens, mergers or consolidations, dispositions of assets, repurchase or redemption of capital stock, making certain investments, entering into
certain transactions with affiliates or changing the nature of their business. In addition, the Credit Agreement contains financial covenants which require SYNNEX to maintain a Consolidated Leverage Ratio in an amount not to exceed 3.50 to 1.0 and a
Consolidated Fixed Charge Coverage Ratio (as defined in the Credit Agreement) in an amount not less than 1.20 to 1.0 through SYNNEX' fiscal year ending in 2015; thereafter, SYNNEX must maintain a Consolidated Fixed Charge Coverage Ratio in an
amount not less than 1.25 to 1.0. SYNNEX' obligations under the Credit Agreement are secured by substantially all of its and certain of its Domestic Subsidiaries' assets and are guaranteed by certain of its Domestic Subsidiaries.
The foregoing description of the Credit Agreement is qualified in its entirety by reference to the Credit Agreement which is attached hereto as Exhibit 10.1,
and incorporated by reference herein. The full text of the press release is attached as Exhibit 99.1 to this report and incorporated herein by reference.
Amendment of a Material Definitive Agreement
Concurrently with SYNNEX' entry into the Credit Agreement described above, SYNNEX and its subsidiary, SIT Funding Corporation amended SYNNEX'
accounts receivable securitization program (the "U.S. Agreement") by entering into a Second Omnibus Amendment to Fourth Amended and Restated Receivables Funding and Administration Agreement and Third Amended and Restated Receivables Sale
and Servicing Agreement (the "Securitization Amendment") with The Bank of Nova Scotia, as agent, and the other lenders party thereto. Among other things, the Securitization Amendment provides for the entry into of the Credit Agreement and
amends certain covenants and representations and warranties to make them consistent with the Credit Agreement. Further, in connection with the Securitization Amendment, the effective borrowing cost under the U.S. Arrangement was also modified to be
a blended rate that includes prevailing dealer commercial paper rates and the daily LIBOR rate, plus a program fee of 0.425% per annum based on the used portion of the commitment, and a facility fee of 0.425% per annum payable on the
aggregate commitment of the lenders.
The foregoing description of the Securitization Amendment is qualified in its entirety by reference to the
Securitization Amendment which is attached hereto as Exhibit 10.2, and incorporated by reference herein.
Item 1.02. Termination of a Material
Definitive Agreement.
Concurrently with SYNNEX' entry into the Credit Agreement described in Item 1.01 above, SYNNEX paid in full and
terminated its existing Fourth Amended and Restated Credit Agreement dated as of November 12, 2010 (as amended) among SYNNEX and Bank of America, N.A.
2
Item 2.03. Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet
Arrangement of a Registrant.
The information required to be disclosed under this Item 2.03 is set forth in Item 1.01 above and is
incorporated by reference.
Item 8.01. Other Events.
As previously announced, on September 10, 2013, SYNNEX entered into a Master Asset Purchase Agreement, by and between SYNNEX and International Business
Machines Incorporated, a New York corporation ("IBM"), pursuant to which SYNNEX will acquire certain assets of IBM (the "Acquisition"). SYNNEX anticipates the initial closing of the Acquisition to occur in the first calendar
quarter of 2014.
Note on Forward-Looking Statements
Certain statements in this filing including, but not limited to, statements regarding the expected timing of the completion of the acquisition; the ability to
complete the acquisition and any statements of assumptions underlying any of the foregoing are forward-looking statements within the meaning of the Private Securities Reform Act of 1995 that are subject to risks and uncertainties that could cause
results to be materially different than expectations. Such risks and uncertainties include, but are not limited to, the risk that the acquisition will not be consummated; failure to receive regulatory approval for the acquisition; risks associated
with the acquisition including the ability to successfully integrate employees and operations; diversion of management's attention; retaining key employees; risks associated with international operations; and other risks detailed from time to
time in the reports SYNNEX files with the Securities and Exchange Commission including SYNNEX' Form 10-K for the year ended November 30, 2012 and Form 10-Q for the quarter ended August 31, 2013. Copies of reports SYNNEX filed
with the SEC are posted on its Web site and are available from SYNNEX without charge. These forward-looking statements are not guarantees of future performance and speak only as of the date hereof, and, except as required by law, SYNNEX disclaims
any obligation to update these forward-looking statements to reflect future events or circumstances.
Item 9.01. Financial Statements and
Exhibits.
(d)
Exhibits.
Exhibit No.
Description
10.1
Credit Agreement dated as of November 27, 2013, by and among the Registrant, the subsidiaries of the Registrant named therein, the lender signatories thereto from time to time, and Bank of America, N.A.
10.2
Second Omnibus Amendment to Fourth Amended and Restated Receivables Funding and Administration Agreement and Third Amended and Restated Receivables Sales and Service Agreement dated as of November 27, 2013, by and among the
Registrant, SIT Funding Corporation, the lenders party thereto and The Bank of Nova Scotia.
99.1
Press release dated November 27, 2013.
3
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by
the undersigned hereunto duly authorized.
Dated: November 27, 2013
SYNNEX CORPORATION
By:
/s/ Simon Y. Leung
Simon Y. Leung
Senior Vice President, General Counsel and
Corporate Secretary
4
EXHIBIT INDEX
Exhibit No.
Description
10.1
Credit Agreement dated as of November 27, 2013, by and among the Registrant, the subsidiaries of the Registrant named therein, the lender signatories thereto from time to time, and Bank of America, N.A.
10.2
Second Omnibus Amendment to Fourth Amended and Restated Receivables Funding and Administration Agreement and Third Amended and Restated Receivables Sales and Service Agreement dated as of November 27, 2013, by and among the
Registrant, SIT Funding Corporation, the lenders party thereto and The Bank of Nova Scotia.
99.1
Press release dated November 27, 2013.
5