Avnet Addresses Debt-Related Inquiries by Posting FAQs to its Web Site.Business Editors PHOENIX--(BUSINESS WIRE)--Oct. 16, 2002 Avnet, Inc. (NYSE NYSE See: New York Stock Exchange :AVT AVT avian arginine vasotocin. See vasotocin. ) announced this morning that it has posted to the Company's investor relations Investor relations The process by which the corporation communicates with its investors. Web site responses to inquiries relating to the Company's current debt and liquidity position and its amended multi-year syndicated bank credit facility, which was filed with the Securities and Exchange Commission on Form 8-K Form 8-K The form required by the SEC when a publicly held company incurs any event that might affect its financial situation or the share value of its stock. Form 8-K See 8-K. on October 10, 2002. Posted at www.ir.avnet.com/liquidity, the Company provides an outline of frequently asked questions (FAQs) received over the past several days, with responses from Avnet's management. Commenting on this action, Ray Sadowski, Avnet's Chief Financial Officer, stated: "We have received a number of questions regarding the amended multi-year credit facility as well as our accounts receivable accounts receivable n. the amounts of money due or owed to a business or professional by customers or clients. Generally, accounts receivable refers to the total amount due and is considered in calculating the value of a business or the business' problems in paying securitization Securitization The process of creating a financial instrument by combining other financial assets and then marketing them to investors. Notes: Mortgage backed securities are a perfect example of securitization. May also be spelled as "securitisation. program and we want to be responsive to these inquiries. The most frequent question we've received addresses Avnet's ability to access its available lines of credit to retire maturing debt balances coming due in calendar year 2003. Although it is not currently our intent to use the available lines of credit to fund the payment of outstanding bond obligations, we are not restricted from doing so." Avnet maintains a strong commitment to provide all current and prospective investors access to important information about our Company. Please visit Avnet's investor relations Web site at www.ir.avnet.com to review the FAQs, Avnet's 8-K filing, and other investor relations information. You may also contact Avnet's investor relations team at investorrelations@avnet.com. Company Information Phoenix, Arizona-based Avnet, Inc., a Fortune 500 company, is one of the world's largest distributors of semiconductors, interconnect, passive and electromechanical The use of electricity to run moving parts. Disk drives, printers and motors are examples. Electromechanical systems must be designed for the eventual deterioration of moving components that wear over time. The first TVs were electromechanical systems (see video/TV history). components, enterprise network and computer equipment, and embedded sub-systems from leading manufacturers. Serving customers in 63 countries, Avnet markets, inventories and adds value to these products and provides world-class supply-chain management and engineering services. Avnet's investor relations Web site is located at www.ir.avnet.com. |
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