Key Highlights

• TD SYNNEX secured commitments of €650 million from senior note investors to fund the securitization program.

• The revolving facility will remain active until June 25 2028, with a provision to extend to June 2031.

• A guarantee from TD SYNNEX underpins the obligations of its European affiliates.

TD SYNNEX Corp (NYSE: SNX) disclosed that on June 26 2026 it entered into a European receivables securitization arrangement. The structure, called the EU Securitization Program, is intended to supply financing for receivables generated by its subsidiaries across Europe.

Program Architecture

At the centre of the transaction is an Irish special‑purpose entity that acts as both the issuer of the notes and the ultimate purchaser of the receivables. Senior‑note participants, including major banks such as BNP Paribas, Banco Santander and Crédit Agricole, pledged an aggregate of €650 million. The capital will be deployed to acquire eligible receivables and can be drawn on a weekly or ad‑hoc basis during the reloading period.

Financing Mechanics

The arrangement functions as a revolving line of credit. Receivables arising from the company’s European affiliates are transferred to the master purchaser, BNP Paribas S.A. (Dublin Branch), and subsequently to the Irish issuer. Interest on senior and junior notes accrues on a weekly basis within each month and is paid in arrears on specified dates.

Credit and Performance Triggers

The master agreement sets rating‑based thresholds tied to TD SYNNEX’s credit profile. If a Level 2 or Level 3 rating trigger is breached, additional collection, servicing and cash‑management measures are activated. Early amortisation events, such as payment defaults or reporting lapses, may lead to termination of the facility, suspension of daily set‑off, and redirection of cash flows to the master purchaser.

Default Provisions

Should an issuer‑level default occur, senior‑note investors can withhold further advances and may declare the notes immediately due. The security trustee is authorised to issue enforcement notices and pursue the pledged collateral. The structure limits recourse to the issuer and excludes petition remedies.

Timeline and Extension Options

The borrowing window closes on June 25 2028. The parties retain the option to extend the facility through June 2031, offering flexibility for future funding requirements. TD SYNNEX’s guarantee supports the obligations of its European affiliates and other parties to the transaction.

Regulatory and Confidentiality Notes

No other financial metrics beyond the disclosed €650 million commitment were provided.

This article is for informational purposes only and does not constitute financial advice. Please consult a licensed financial adviser before making investment decisions.