TD SYNNEX launches €650 million European receivables securitization

TD SYNNEX Corporation (NYSE: SNX) entered into a European receivables securitization program on June 26, 2026, with a senior notes commitment of €650 million, according to a company statement.

The program involves TD SYNNEX Ireland Receivables I Designated Activity Company as issuer, BNP Paribas S.A. Dublin Branch as master purchaser, and BNP Paribas, Banco Santander S.A., and Crédit Agricole Corporate and Investment Bank as senior notes subscribers. TD SYNNEX seller entities in Belgium, France, Germany, and Spain will originate eligible receivables under the structure.

The facility is structured as a revolving securitization during a reloading period, under which eligible receivables originated by the seller entities may be sold to the master purchaser and then on-sold to the issuer. The proceeds are intended to fund the issuer's purchase of eligible receivables and, in certain circumstances, weekly or intraperiod advances.

Interest on both senior and junior notes accrues over weekly interest periods within each monthly period and is payable in arrears. The program also includes ratings-based performance thresholds tied to TD SYNNEX Corporation's credit ratings.

The scheduled borrowing end date is June 25, 2028, with an option for the parties to extend the program to June 2031. TD SYNNEX Corporation has provided a guaranty covering certain obligations of the seller entities and other transaction parties.

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