<SEC-DOCUMENT>0001157523-11-005152.txt : 20110822
<SEC-HEADER>0001157523-11-005152.hdr.sgml : 20110822
<ACCEPTANCE-DATETIME>20110822105338
ACCESSION NUMBER:		0001157523-11-005152
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20110819
ITEM INFORMATION:		Entry into a Material Definitive Agreement
ITEM INFORMATION:		Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant
ITEM INFORMATION:		Other Events
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20110822
DATE AS OF CHANGE:		20110822

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			ARROW ELECTRONICS INC
		CENTRAL INDEX KEY:			0000007536
		STANDARD INDUSTRIAL CLASSIFICATION:	WHOLESALE-ELECTRONIC PARTS & EQUIPMENT, NEC [5065]
		IRS NUMBER:				111806155
		STATE OF INCORPORATION:			NY
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-04482
		FILM NUMBER:		111048903

	BUSINESS ADDRESS:	
		STREET 1:		25 HUB DR
		CITY:			MELVILLE
		STATE:			NY
		ZIP:			11747
		BUSINESS PHONE:		5163911300

	MAIL ADDRESS:	
		STREET 1:		50 MARCUS DR
		CITY:			MELVILLE
		STATE:			NY
		ZIP:			11747
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>a6836846.htm
<DESCRIPTION>ARROW ELECTRONICS, INC. 8-K
<TEXT>
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    <p style="text-align: center">
      <font style="font-family: Times New Roman; font-size: 12pt">SECURITIES
      AND EXCHANGE COMMISSION</font><br><font style="font-family: Times New Roman; font-size: 12pt">WASHINGTON,
      DC 20549</font><br><br><font style="font-family: Times New Roman; font-size: 12pt">FORM
      8-K</font><br><br><font style="font-family: Times New Roman; font-size: 12pt">CURRENT
      REPORT</font><br><font style="font-family: Times New Roman; font-size: 12pt">PURSUANT
      TO SECTION 13 OR 15(d) OF THE</font><br><font style="font-family: Times New Roman; font-size: 12pt">SECURITIES
      EXCHANGE ACT OF 1934</font><br><br><font style="font-family: Times New Roman; font-size: 12pt">Date
      of report (Date of earliest event reported): August 19, 2011</font><br><br><br>
    </p>
    <div style="text-align:center">
    <table cellspacing="0" style="width: 100%; margin-left:auto;margin-right:auto; font-family: Times New Roman; margin-bottom: 10.0px; font-size: 10pt">
      <tr>
        <td style="text-align: center; padding-left: 0.0px; border-bottom: solid black 1.0pt" colspan="3" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            ARROW ELECTRONICS, INC.
          </p>
        </td>
      </tr>
      <tr>
        <td style="text-align: center; padding-left: 0.0px" colspan="3" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            (Exact Name of Registrant as Specified in its Charter)
          </p>
        </td>
      </tr>
      <tr>
        <td style="width: 33%">

        </td>
        <td style="width: 34%">

        </td>
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          &#160;
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        <td style="width: 33%; text-align: center; padding-left: 0.0px; border-bottom: solid black 1.0pt" valign="bottom">
          <p style="margin-top: 0px; margin-bottom: 0px">
            NEW YORK
          </p>
        </td>
        <td style="width: 34%; text-align: center; padding-left: 0.0px; border-bottom: solid black 1.0pt; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <p style="margin-top: 0px; margin-bottom: 0px">
            1-4482
          </p>
        </td>
        <td style="width: 33%; text-align: center; padding-left: 0.0px; border-bottom: solid black 1.0pt; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <p style="margin-top: 0px; margin-bottom: 0px">
            11-1806155
          </p>
        </td>
      </tr>
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        <td style="width: 33%; text-align: center; padding-left: 0.0px" valign="bottom">
          <p style="margin-top: 0px; margin-bottom: 0px">
            (State or Other Jurisdiction
          </p>
          <p style="margin-top: 0px; margin-bottom: 0px">
            of Incorporation)
          </p>
        </td>
        <td style="width: 34%; text-align: center; padding-left: 0.0px" valign="bottom">
          <p style="margin-top: 0px; margin-bottom: 0px">
            (Commission File<br>Number)
          </p>
        </td>
        <td style="width: 33%; text-align: center; padding-left: 0.0px" valign="bottom">
          <p style="margin-top: 0px; margin-bottom: 0px">
            (IRS Employer
          </p>
          <p style="margin-top: 0px; margin-bottom: 0px">
            Identification No.)
          </p>
        </td>
      </tr>
      <tr>
        <td style="width: 33%">

        </td>
        <td style="width: 34%">

        </td>
        <td style="width: 33%">
          &#160;
        </td>
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      <tr>
        <td style="text-align: center; padding-left: 0.0px; border-bottom: solid black 1.0pt" colspan="2" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            50 MARCUS DRIVE, MELVILLE, NEW YORK
          </p>
        </td>
        <td style="width: 33%; text-align: center; padding-left: 0.0px; border-bottom: solid black 1.0pt; padding-right: 0.0px; white-space: nowrap" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            11747
          </p>
        </td>
      </tr>
      <tr>
        <td style="text-align: center; padding-left: 0.0px" colspan="2" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            (Address of Principal Executive Offices)
          </p>
        </td>
        <td style="width: 33%; text-align: center; padding-left: 0.0px" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            (Zip Code)
          </p>
        </td>
      </tr>
      <tr>
        <td style="width: 33%">

        </td>
        <td style="width: 34%">

        </td>
        <td style="width: 33%">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: center; padding-left: 0.0px" colspan="3" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            Registrant&#8217;s telephone number, including area code: (631) 847-2000
          </p>
        </td>
      </tr>
      <tr>
        <td style="width: 33%">

        </td>
        <td style="width: 34%">

        </td>
        <td style="width: 33%">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: center; padding-left: 0.0px; border-bottom: solid black 1.0pt" colspan="3" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            Not Applicable
          </p>
        </td>
      </tr>
      <tr>
        <td style="text-align: center; padding-left: 0.0px" colspan="3" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            (Former Name or Former Address, if Changed Since Last Report)
          </p>
        </td>
      </tr>
    </table>
    </div>
    <p style="text-align: center">

    </p>
    <p style="text-indent: 30.0px; font-family: Times New Roman; font-size: 10pt">
      <font style="font-size: 10pt; font-family: Times New Roman">Check the
      appropriate box below if the Form 8-K filing is intended to
      simultaneously satisfy the filing obligation of the registrant under any
      of the following provisions (see General Instruction A.2. below):</font>
    </p>
    <p>
      <font style="font-size: 10pt; font-family: Arial Unicode MS">&#8414;</font>
      <font style="font-size: 10pt; font-family: Times New Roman">Written
      communications pursuant to Rule 425 under the Securities Act (17 CFR
      230.425)</font>
    </p>
    <p>
      <font style="font-size: 10pt; font-family: Arial Unicode MS">&#8414;</font>
      <font style="font-size: 10pt; font-family: Times New Roman">Soliciting
      material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
      240.14a-12)</font>
    </p>
    <p>
      <font style="font-size: 10pt; font-family: Arial Unicode MS">&#8414;</font>
      <font style="font-size: 10pt; font-family: Times New Roman">Pre-commencement
      communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
      240.14d-2(b))</font>
    </p>
    <p>
      <font style="font-size: 10pt; font-family: Arial Unicode MS">&#8414;</font>
      <font style="font-size: 10pt; font-family: Times New Roman">Pre-commencement
      communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
      240.13e-4(c))</font>
    </p>
    <div style="width: 100%; margin-left: 0pt; text-indent: 0pt; margin-bottom: 10pt; margin-right: 0pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="color: black; height: 1.5pt">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <p>
      <b>ITEM 1.01.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;ENTRY INTO A MATERIAL DEFINITIVE AGREEMENT</b>
    </p>
    <p>
      On August 19, 2011 Arrow Electronics, Inc. (the &#8220;Company&#8221;) and certain
      of the Company&#8217;s subsidiaries, as borrowers, entered into a Credit
      Agreement with the lenders from time to time party thereto, JPMorgan
      Chase Bank, N.A., as administrative agent and BNP Paribas, Bank of
      America, N.A., The Bank of Nova Scotia and The Bank of Tokyo-Mitsubishi
      UFJ, Ltd. as syndication agents (the &#8220;Credit Agreement&#8221;), which replaces
      the Company&#8217;s existing credit facility dated as of January 11,
      2007.&#160;&#160;The Credit Agreement provides for extensions of credit in the
      aggregate amount of up to $1,200,000,000, consisting of revolving credit
      facilities and letters of credit.&#160;&#160;
    </p>
    <p>
      Interest and fees under the Credit Agreement will generally be payable
      at least on a quarterly basis and the applicable margins and fees are
      determined based on the actual or implied senior unsecured non-credit
      enhanced debt ratings of the Company in effect from time to time by
      Moody&#8217;s Investors Service, Inc. or Standard &amp; Poor&#8217;s Ratings Services.
    </p>
    <p>
      The Company and certain of its U.S. and non-U.S. subsidiaries may be
      borrowers under the Credit Agreement.&#160;&#160;Loans may be made, and letters of
      credit may be issued, under the Credit Agreement in U.S. Dollars,
      British Pounds Sterling, Euros and other specified currencies.&#160;&#160;The
      Company&#8217;s obligations are guaranteed by certain of the Company&#8217;s
      domestic subsidiaries.&#160;&#160;The obligations of any subsidiary borrowers are
      guaranteed by the Company.
    </p>
    <p>
      The Credit Agreement contains a number of covenants, including
      compliance with various financial ratios and tests, and certain
      covenants that restrict, among other things, the Company&#8217;s ability to
      incur debt; incur liens; merge or consolidate with other companies;
      enter into agreements that limit its or its subsidiaries&#8217; ability to
      incur liens or its subsidiaries&#8217; ability pay dividends; and make certain
      acquisitions, and a covenant that limits the amount of dividends or
      distributions that may be paid to stockholders.&#160;&#160;
    </p>
    <p>
      The term loans and borrowings under the revolving credit facilities
      mature on August 19, 2016 and the maturity may be accelerated upon the
      occurrence and during the continuation of an event of default.&#160;&#160;Events
      of default under the Credit Agreement include the failure to pay
      principal or interest when due; the breach of any representation or
      warranty; covenant defaults; insolvency of the Company or certain
      subsidiaries; imposition of certain judgments; certain events relating
      to the Employee Retirement Income Security Act of 1974 (as amended); a
      change in control (with respect to Company&#8217;s board of directors or the
      ownership of the Company&#8217;s shares); impairment of loan documentation or
      any guarantees; and cross-defaults to certain other indebtedness.
    </p>
    <p>
      In the ordinary course of their respective businesses, some of the
      lenders under the Credit Agreement, or their affiliates, have performed,
      and may in the future perform, commercial banking, investment banking,
      trust, advisory or other financial services for the Company and its
      affiliates.
    </p>
    <div style="width: 100%; margin-left: 0pt; text-indent: 0pt; margin-bottom: 10pt; margin-right: 0pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center; font-family: Times New Roman; font-size: 10pt">
          2
        </div>
        <div style="text-align: center">
          <hr style="color: black; height: 1.5pt">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <p>
      <b>ITEM 2.03.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;CREATION OF A DIRECT FINANCIAL OBLIGATION OR AN
      OBLIGATION UNDER AN OFF-BALANCE SHEET ARRANGEMENT OF A REGISTRANT</b>
    </p>
    <p>
      The disclosure required by this item is included in Item 1.01 and is
      incorporated herein by reference.
    </p>
    <p>
      <b>ITEM 8.01 OTHER EVENTS.</b>
    </p>
    <p>
      <i>Press Release</i>
    </p>
    <p>
      On August 22, 2011, the Company issued a press release regarding the
      execution of the Credit Agreement.&#160;&#160;A copy of the press release is filed
      hereto as Exhibit 99.1 hereto and is incorporated herein by reference.
    </p>
    <p>
      <b>Item 9.01 FINANCIAL STATEMENTS AND EXHIBITS.</b>
    </p>
    <p>
      <b>(d)&#160;&#160;&#160;&#160;&#160;&#160;&#160;Exhibits</b>
    </p>
    <p>

    </p>
<div style="text-align:left">
    <table cellspacing="0" style="width: 100%; font-family: Times New Roman; margin-bottom: 10.0px; font-size: 10pt">
      <tr>
        <td style="width: 15%; text-align: center; padding-left: 0.0px" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <u>Exhibit Number</u>
          </p>
        </td>
        <td style="width: 1%">
          &#160;
        </td>
        <td style="width: 84%; text-align: left; padding-left: 0.0px" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <u>Description of Document</u>
          </p>
        </td>
      </tr>
      <tr>
        <td style="width: 15%">

        </td>
        <td style="width: 1%">

        </td>
        <td style="width: 84%">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="width: 15%; text-align: center; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            99.1
          </p>
        </td>
        <td style="width: 1%">

        </td>
        <td style="width: 84%; text-align: left; padding-left: 0.0px" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            Press Release, issued August 22, 2011.
          </p>
        </td>
      </tr>
    </table>
    </div>
    <p>

    </p>
    <p>

    </p>
    <p style="text-align: center">
      <font style="font-size: 10pt; font-family: Times New Roman"><b>SIGNATURES</b></font><br>
    </p>
    <p style="text-indent: 30.0px; font-family: Times New Roman; font-size: 10pt">
      Pursuant to the requirements of the Securities Exchange Act of 1934, the
      Company has duly caused this report to be signed on its behalf by the
      undersigned hereunto duly authorized.
    </p>
    <p style="text-indent: 30.0px; font-family: Times New Roman; font-size: 10pt">

    </p>
    <div style="text-align:center">
    <table cellspacing="0" style="width: 100%; margin-left:auto;margin-right:auto; font-family: Times New Roman; margin-bottom: 10.0px; font-size: 10pt">
      <tr>
        <td style="width: 35%">

        </td>
        <td style="width: 20%; text-align: left; padding-left: 0.0px" valign="top">
          &#160;
        </td>
        <td style="text-align: left; padding-left: 0.0px" colspan="3" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            ARROW ELECTRONICS, INC.
          </p>
        </td>
      </tr>
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        <td style="width: 35%">

        </td>
        <td style="width: 20%">

        </td>
        <td style="width: 3%; text-align: left; padding-left: 0.0px" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            &#160;
          </p>
        </td>
        <td style="width: 35%">

        </td>
        <td style="width: 7%">

        </td>
      </tr>
      <tr>
        <td style="width: 35%">

        </td>
        <td style="width: 20%">

        </td>
        <td style="width: 3%">

        </td>
        <td style="width: 35%">

        </td>
        <td style="width: 7%; text-align: left; padding-left: 0.0px" valign="top">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 2.0px; width: 35%; text-align: left; padding-left: 0.0px" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            Date: August 22, 2011
          </p>
        </td>
        <td style="width: 20%">

        </td>
        <td style="padding-bottom: 2.0px; width: 3%; text-align: left; padding-left: 0.0px" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            By:
          </p>
        </td>
        <td style="width: 35%; text-align: left; padding-left: 0.0px; border-bottom: solid black 1.0pt" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            /s/ Peter S. Brown
          </p>
        </td>
        <td style="width: 7%">

        </td>
      </tr>
      <tr>
        <td style="width: 35%">

        </td>
        <td style="width: 20%">

        </td>
        <td style="width: 3%; text-align: left; padding-left: 0.0px" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            &#160;
          </p>
        </td>
        <td style="width: 35%; text-align: left; padding-left: 0.0px" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            Name: &#160;Peter S. Brown
          </p>
        </td>
        <td style="width: 7%">

        </td>
      </tr>
      <tr>
        <td style="width: 35%">

        </td>
        <td style="width: 20%">

        </td>
        <td style="width: 3%; text-align: left; padding-left: 0.0px" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            &#160;
          </p>
        </td>
        <td style="width: 35%; text-align: left; padding-left: 0.0px" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            Title: Senior Vice President&#160;and
          </p>
        </td>
        <td style="width: 7%">

        </td>
      </tr>
      <tr>
        <td style="width: 35%">

        </td>
        <td style="width: 20%">

        </td>
        <td style="width: 3%">

        </td>
        <td style="width: 35%; text-align: left; padding-left: 35.0px" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            General Counsel
          </p>
        </td>
        <td style="width: 7%">

        </td>
      </tr>
    </table>
    </div>
    <p style="text-align: center">

    </p>
    <p style="text-align: center">
      3
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<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>a6836846ex99_1.htm
<DESCRIPTION>EXHIBIT 99.1
<TEXT>
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    <title></title>
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<!--All rights reserved www.businesswire.com-->
  </head>
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    <p style="text-align: right">
      <b>Exhibit 99.1</b>
    </p>
    <p style="text-align: center">
      <u><font style="font-family: Times New Roman; font-size: 12pt"><b>Arrow
      Electronics Announces New Credit Facility</b></font></u>
    </p>
    <p style="text-align: center">
      <font style="font-family: Times New Roman; font-size: 12pt"><b>--
      Increased liquidity provides continued financial flexibility --</b></font>
    </p>
    <p>

    </p>
    <p>
      MELVILLE, N.Y.--(BUSINESS WIRE)--August 22, 2011--Arrow Electronics,
      Inc. (NYSE:ARW) announced that the company has entered into a $1.2
      billion five-year credit agreement, replacing the $800 million revolving
      credit facility and $200 million term loan that were scheduled to expire
      in January 2012. The new revolving credit facility expires on August 19,
      2016. The lead banks in the new facility are JP Morgan Chase Bank as
      Administrative Agent and BNP Paribas, Bank of America, The Bank of Nova
      Scotia and The Bank of Tokyo-Mitsubishi as syndication agents.
    </p>
    <p>
      &quot;We are very pleased to renew our credit facility for a five-year
      period. Our balance sheet is exceptionally strong and the renewal
      reflects this strength as well as the solid relationship we have with
      our banking partners,&quot; said Paul J. Reilly, executive vice president,
      finance and operations and chief financial officer. &quot;Our capacity to
      generate good levels of cash flow, our strong balance sheet, and the
      renewed credit facility all provide substantial financial flexibility to
      fund our growth.&quot;
    </p>
    <p>
      Arrow Electronics (<u>www.arrow.com</u>) is a global provider of
      products, services and solutions to industrial and commercial users of
      electronic components and enterprise computing solutions. Headquartered
      in Melville, N.Y., Arrow serves as a supply channel partner for over
      1,200 suppliers and 115,000 original equipment manufacturers, contract
      manufacturers and commercial customers through a global network of more
      than 340 locations in 52 countries.
    </p>
    <p>

    </p>
    <p>
      CONTACT:<br>Arrow Electronics, Inc.<br>Michael Taunton, 631-847-5680<br>Vice
      President and Treasurer<br>or<br>Paul J. Reilly, 631-847-1872<br>Executive
      Vice President, Finance and Operations &amp; Chief Financial Officer<br>or<br>Media:<br>John
      Hourigan, 303-824-4586<br>Director, External Communications
    </p>
    <p>

    </p>
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