EXECUTION VERSION FIRST AMENDMENT TO CREDIT AGREEMENT THIS FIRST AMENDMENT TO CREDIT AGREEMENT (this “Amendment”), dated as of March 7, 2003, is entered into by and among:

EX-4.08 5 f90693exv4w08.htm EXHIBIT 4.08

EXHIBIT 4.08

EXECUTION VERSION

FIRST AMENDMENT TO CREDIT AGREEMENT

     THIS FIRST AMENDMENT TO CREDIT AGREEMENT (this “Amendment”), dated as of March 7, 2003, is entered into by and among:

     (1)     FLEXTRONICS INTERNATIONAL LTD., a Singapore corporation (“Borrower”);

     (2)     Each of the financial institutions listed in Part A of Schedule I to the Credit Agreement under the heading “Facility B Commitment” referred to in Recital A below as amended by this Amendment (such financial institutions to be referred to herein collectively as the “Facility B Lenders”); and

     (3)     ABN AMRO BANK N.V. (“ABN AMRO”), as agent for the Lenders (in such capacity, “Agent”).

RECITALS

     A.     Borrower, the financial institutions currently listed in Part A of Schedule I to the Credit Agreement, including the financial institutions currently listed in Part A of Schedule I to the Credit Agreement under the heading “Facility B Commitment” referred to in this Recital A (such financial institutions listed under the heading “Facility B Commitment” to be referred to herein collectively as the “Existing Facility B Lenders”) and Agent are parties to that certain Credit Agreement, dated as of March 8, 2002 (the “Credit Agreement”). Pursuant to the Credit Agreement, the Existing Facility B Lenders have agreed to provide to Borrower a 364 day revolving credit facility with a total commitment of $133,333,333.33 (the “Total Facility B Commitment”), of which $0 is outstanding in the form of Facility B Loans as of March 7, 2003 (such outstanding Facility B Loans, collectively, the “Outstanding Facility B Loans”). Pursuant to the Credit Agreement, the Total Facility B Commitment is currently set to expire on March 7, 2003 (such date as defined in the Credit Agreement, the “Facility B Maturity Date”).

     B.     In order to facilitate the extension of the Facility B Maturity Date to March 5, 2004 and an increase of the Total Facility B Commitment to $173,333,333.33, Borrower has requested that (i) the Existing Facility B Lenders amend the Credit Agreement to extend the Facility B Maturity Date, increase the Total Facility B Commitment and to make certain other changes, and (ii) each of Erste Bank der oesterreichischen Sparkassen AG, Key Corporate Capital, Inc. and Royal Bank of Canada become parties to the Credit Agreement as amended by this Amendment as Facility B Lenders (collectively, the “New Facility B Lenders”) with Facility B Commitments in the amounts described in this Amendment.

     C.     (i) The Existing Facility B Lenders are willing to amend the Credit Agreement to extend the Facility B Maturity Date, increase the Total Facility B Commitment and to make such other changes to the Credit Agreement as are set forth herein, and (ii) the New Facility B Lenders are willing to become parties to the Credit Agreement as amended by this Amendment

as Facility B Lenders with Facility B Commitments in the amounts described in this Amendment, each upon the terms and subject to the conditions set forth herein.

AGREEMENT

     NOW, THEREFORE, in consideration of the above recitals and for other good and valuable consideration, the receipt and adequacy of which are hereby acknowledged, Borrower, the Facility B Lenders and Agent hereby agree as follows:

     1.     Definitions, Interpretation. All capitalized terms defined above and elsewhere in this Amendment shall be used herein as so defined. Unless otherwise defined herein, all other capitalized terms used herein shall have the respective meanings given to those terms in the Credit Agreement, as amended by this Amendment. The rules of construction set forth in Section I of the Credit Agreement shall, to the extent not inconsistent with the terms of this Amendment, apply to this Amendment and are hereby incorporated by reference.

     2.     Sale and Assignment of Outstanding Facility B Loans. Subject to the satisfaction of the conditions set forth in paragraph 5 below, on the Effective Date Agent shall calculate the Proportionate Share of each Facility B Lender in each Outstanding Facility B Loan. Based upon such calculation, the Facility B Lenders shall sell and assign or purchase and assume (as applicable) from each other such shares in the Outstanding Facility B Loans as Agent determines is necessary to cause each Facility B Lender to hold Outstanding Facility B Loans in an amount equal to such Facility B Lender’s Proportionate Share of such Outstanding Facility B Loan Borrowings. On and after the Effective Date, each Facility B Lender shall have a Facility B Commitment in an amount set forth opposite its name on Part A of Schedule I of the Credit Agreement (as amended pursuant to this Amendment) under the heading “Facility B Commitments”, with the rights, duties and obligations of such a Facility B Lender under the Credit Agreement and the other Credit Documents.

     3.     Amendments to Credit Agreement. Subject to the satisfaction of the conditions set forth in paragraph 5 below, the Credit Agreement is hereby amended as follows:

     (a)     Paragraph 1.01 is hereby amended by changing the definition of the term “Facility B Maturity Date” set forth therein to read in its entirety as follows:

     “Facility B Maturity Date” shall mean March 5, 2004.

     (b)     Paragraph 1.01 is hereby further amended by changing the definition of the term “Total Facility B Commitment” set forth therein to read in its entirety as follows:

     “Total Facility B Commitment” shall mean, at any time, the sum at such time of Facility B Lenders’ Facility B Commitments. The Total Facility B Commitment on the date of this Agreement is $133,333,333.33, and the Total Facility B Commitment on March 7, 2003 is $173,333,333.33.

     (c)     The first and third columns of Part A of Schedule I which sets forth the name of each Facility B Lender and the Facility B Commitment of each Facility B Lender is hereby amended to read in its entirety as set forth on Attachment A hereto (and to the extent such Facility B Lender does not also hold a Facility A Commitment, Part A of Schedule I will also be amended to reflect as such).

     (d)     Part B of Schedule I which sets for the address for notices for all of the Lenders (including the Facility B Lenders) is hereby amended by the deleting certain notice information as applicable, and by adding the notice information with respect to the New Facility B Lenders to read in its entirety as set forth on Attachment B hereto.

     (e)     The portion of the Pricing Grid with the heading “Facility B” set forth on Schedule II is hereby amended to read in its entirety as set forth on Attachment C hereto.

     4.     Representations and Warranties. Borrower hereby represents and warrants to Agent and the Facility B Lenders that the following are true and correct on the date of this Amendment and that, after giving effect to the amendments set forth in paragraph 3 above, the following will be true and correct on the Effective Date:

     (a)     The representations and warranties of Borrower and its Subsidiaries set forth in Paragraph 4.01 of the Credit Agreement and in the other Credit Documents are true and correct in all material respects (except for representations and warranties expressly made as of a specified date, which are true and correct in all material respects as of such date);

     (b)     No Default has occurred and is continuing; and

     (c)     Each of the Credit Documents is in full force and effect.

(Without limiting the scope of the term “Credit Documents,” Borrower expressly acknowledges in making the representations and warranties set forth in this paragraph 4 that, on and after the date hereof, such term includes this Amendment.)

     5.     Effective Date. The sale, assignment, purchase and assumption (as applicable) of the Outstanding Facility B Loans referenced in paragraph 2 above and the amendments effected by paragraph 3 above shall become effective on March 7, 2003 (the “Effective Date”), subject to receipt by the Facility B Lenders and Agent, as applicable, on or prior to the Effective Date of the following, each in form and substance satisfactory to the Lenders, Agent and their respective counsel, as applicable:

     (a)     This Amendment duly executed by Borrower, each Facility B Lender and Agent;

     (b)     Such Notes as the Facility B Lenders shall request reflecting such Facility B Lender’s Commitment, each duly executed by Borrower;

     (c)     A letter in the form of Attachment D hereto appropriately completed and duly executed by each Guarantor;

     (d)     A Certificate of the Secretary of Borrower, dated the Effective Date, certifying that (i) the Memorandum and Articles of Association of Borrower, in the form delivered to Agent on the Closing Date, are in full force and effect and have not been amended, supplemented, revoked or repealed since such date and (ii) that attached thereto are true and correct copies of resolutions duly adopted by the Board of Directors of Borrower and continuing in effect, which authorize the execution, delivery and performance by Borrower of this Amendment and the consummation of the transactions contemplated hereby, including without limitation, the extension of the Facility B Maturity Date and the increase of the Total Facility B Commitment;

     (e)     Evidence satisfactory to Agent that the First Amendment to the FIUI Credit Agreement to be dated as of the date hereof shall have been duly executed by the parties thereto and that such amendment shall also become effective on the Effective Date;

     (f)     A favorable written opinion from Fenwick & West, California counsel for Borrower, dated the Effective Date, addressed to Agent for the benefit of Agent and the Facility B Lenders, covering such legal matters as Agent may reasonably request and otherwise in form and substance satisfactory to Agent;

     (g)     A favorable written opinion from Xxxxx & Xxxxxxxx, Singapore counsel for Borrower, dated the Effective Date, addressed to Agent for the benefit of Agent and the Facility B Lenders, covering such legal matters as Agent may reasonably request and otherwise in form and substance satisfactory to Agent;

     (h)     Receipt by Agent on behalf of the Facility B Lenders from Borrower of a non-refundable amendment fee in the amount of $433,333.33, to be shared among the Facility B Lenders pro rata based upon each such Facility B Lender’s Proportionate Share of the Total Facility B Commitment;

     (i)     Receipt by Agent for its own account from Borrower of the arrangement fee referenced in the certain letter agreement dated as of January 16, 2003, between Agent and Borrower; and

     (j)     Such other evidence as Agent or any Lender may reasonably request to establish the accuracy and completeness of the representations and warranties and the compliance with the terms and conditions contained in this Amendment and the other Credit Documents.

     6.     Effect of this Amendment. On and after the Effective Date, each reference in the Credit Agreement and the other Credit Documents to the Credit Agreement shall mean the Credit Agreement as amended hereby. Except as specifically amended above, (a) the Credit Agreement and the other Credit Documents shall remain in full force and effect and are hereby ratified and confirmed and (b) the execution, delivery and effectiveness of this Amendment shall not, except as expressly provided herein, operate as a waiver of any right, power, or remedy of the Lenders or Agent, nor constitute a waiver of any provision of the Credit Agreement or any other Credit Document.

7. Miscellaneous.

         (a)     Counterparts. This Amendment may be executed in any number of identical counterparts, any set of which signed by all the parties hereto shall be deemed to constitute a complete, executed original for all purposes.

         (b)     Headings. Headings in this Amendment are for convenience of reference only and are not part of the substance hereof.

         (c)     Governing Law. This Amendment shall be governed by and construed in accordance with the laws of the State of California without reference to conflicts of law rules.

[The Signature Pages Follow]

     IN WITNESS WHEREOF, Borrower, Agent and the Facility B Lenders have caused this Amendment to be executed as of the day and year first above written.

BORROWER:		FLEXTRONICS INTERNATIONAL LTD.
		By:
				Name:
				Title:
AGENT:		ABN AMRO BANK N.V.,
		As Agent
		By:
				Name:
				Title:
		By:
				Name:
				Title:

FACILITY B LENDERS:		ABN AMRO BANK N.V.
		By:
				Name:
				Title:
		By:
				Name:
				Title:

AIB INTERNATIONAL FINANCE

By:

Name:

Title:

By:

Name:

Title:

DEUTSCHE BANK TRUST COMPANY AMERICAS

(formerly Bankers Trust Company)

By:

Name:

Title:

By:

Name:

Title:

BANK OF AMERICA, N.A.

By:

Name:

Title:

By:

Name:

Title:

BEAR XXXXXXX CORPORATE LENDING INC.

By:

Name:

Title:

By:

Name:

Title:

BNP PARIBAS

By:

Name:

Title:

By:

Name:

Title:

CITICORP USA, INC.

By:

Name:

Title:

By:

Name:

Title:

COMERICA BANK

By:

Name:

Title:

By:

Name:

Title:

CREDIT SUISSE FIRST BOSTON

By:

Name:

Title:

By:

Name:

Title:

DANSKE BANK A/S

By:

Name:

Title:

By:

Name:

Title:

ERSTE BANK DER OESTERREICHISCHEN SPARKASSEN AG

By:

Name:

Title:

By:

Name:

Title:

FLEET NATIONAL BANK

By:

Name:

Title:

By:

Name:

Title:

MIZUHO CORPORATE BANK, LIMITED

By:

Name:

Title:

By:

Name:

Title:

KEY CORPORATE CAPITAL, INC.

By:

Name:

Title:

By:

Name:

Title:

XXXXXX COMMERCIAL PAPER INC.

By:

Name:

Title:

By:

Name:

Title:

ROYAL BANK OF CANADA

By:

Name:

Title:

By:

Name:

Title:

SKANDINAVISKA ENSKILDA XXXXXX XX (publ)

By:

Name:

Title:

By:

Name:

Title:

THE BANK OF NOVA SCOTIA

By:

Name:

Title:

By:

Name:

Title:

UNION BANK OF CALIFORNIA, N.A.

By:

Name:

Title:

By:

Name:

Title:

U.S. BANK NATIONAL ASSOCIATION

By:

Name:

Title:

By:

Name:

Title:

ATTACHMENT A

SCHEDULE I

FACILITY B LENDER’S COMMITMENTS

		FACILITY B
LENDER		COMMITMENT
ABN AMRO Bank N.V		$	15,208,333.33
AIB International Finance		$	2,500,000.00
Deutsche Bank Trust Company Americas		$	14,000,000.00
Bank of America, N.A		$	14,000,000.00
Bear Xxxxxxx Corporate Lending Inc.		$	4,166,666.67
BNP Paribas		$	6,750,000.00
Citicorp USA, Inc.		$	14,000,000.00
Comerica Bank		$	1,666,666.67
Credit Suisse First Boston		$	8,333,333.33
Danske Bank A/S		$	4,166,666.67
Fleet National Bank		$	15,208,333.33
Mizuho Corporate Bank, Limited		$	4,166,666.67
U.S. Bank National Association		$	4,166,666.67

		FACILITY B
LENDER		COMMITMENT
Xxxxxx Commercial Paper Inc.		$	4,166,666.67
Skandinaviska Enskilda Xxxxxx XX (publ)		$	4,166,666.67
The Bank of Nova Scotia		$	12,500,000.00
Union Bank of California, N.A		$	4,166,666.67
Erste Bank der oesterreichischen Sparkassen AG		$	12,500,000.00
Key Corporate Capital, Inc.		$	13,500,000.00
Royal Bank of Canada		$	14,000,000.00

ATTACHMENT B

PART B - ADDRESSES FOR NOTICES, ETC.

ABN AMRO BANK N.V.

Domestic Lending Office:

ABN AMRO Bank N.V. 000 Xxxxx XxXxxxx Xxxxxx Xxxxx 0000 Xxxxxxx, XX 00000

Eurodollar Lending Office:

ABN AMRO Bank N.V. 000 Xxxxx XxXxxxx Xxxxxx Xxxxx 0000 Xxxxxxx, XX 00000

Address for Notices:

ABN AMRO Bank N.V. 000 Xxxxxxxxxx Xxxxxx, 00xx Xxxxx Xxx Xxxxxxxxx, XX 00000 Attn: Xxxxx Xxx Tel. No: (000) 000-0000 Fax No: (000) 000-0000

ABN AMRO Bank N.V. Agency Services 000 Xxxxx XxXxxxx Xxxxxx, Xxxxx 0000 Xxxxxxx, XX 00000-0000 Attn: Xxxxxxxx X. Xxx Tel. No: (000) 000-0000 Fax. No: (000) 000-0000

With a copy of all documentation to:

ABN AMRO Bank N.V. 000 Xxxxx XxXxxxx Xxxxxx, Xxxxx 0000 Xxxxxxx, XX 00000-0000 Attn: Xxx Xxxxxxx Tel. No: (000) 000-0000 Fax. No: (000) 000-0000

Wiring Instructions:

ABN AMRO Bank N.V. New York, New York ABA: 000000000 F/O ABN AMRO Bank , N.V., Chicago Branch CPU Account No.: 650001178941 Reference: Agency Services 00433489 Flextronics Intl. USA Inc.

AIB INTERNATIONAL FINANCE

Domestic and Eurodollar Lending Office:

AIB International Finance International Corporate Banking AIB Bankcentre Ballsbridge, Xxxxxx 0

Address for Notices of Borrowing and Notices of Interest Period Selection:

AIB International Finance Business Support, AIB Bankcentre Xxxxxxxxxxx, Xxxxxx 0 Attn: Xxx Xxxxxxxx Tel. No.: (000) 0-0000000 Fax No.: (000) 0-0000000

Address for all other notices: (Credit Matters)

AIB International Finance AIB International Xxxxxx XXXX, Xxxxxx 0 Attn: Xxxxxx Xxxxxxx/Xxxxxxx Xxxxx Tel. No.: (000) 0-0000000 Fax No.: (000) 0-0000000

Wiring Instructions:

Chase Manhattan Bank, New York ABA No.: 000000000 Swift: XXXXXX00 Account No.: 000-0-000000 Account Name: AIB Dublin Reference: Flextronics International USA, Inc. Attn: Xxx Xxxxxxxx

DEUTSCHE BANK TRUST COMPANY AMERICAS

Domestic and Eurodollar Lending Office:

Deutsche Bank Trust Company Americas 00 X. 00xx Xxxxxx Xxx Xxxx, XX 00000

Address for Notices of Borrowing and Notices of Interest Period Selection:

Deutsche Bank Trust Company Americas 00 Xxxxxx Xxxxxx, 0xx Xxxxx Xxxxxx Xxxx, XX 00000 Attn: Xxxxx Xxxx Tel. No.: (000) 000-0000 Fax No.: (000) 000-0000

Address for all other notices: (Credit Matters)

Deutsche Bank Trust Company Americas 00 X. 00xx Xxxxxx Xxx Xxxx, XX 00000 Attn: Xxxx Xxxx Tel. No.: (000) 000-0000 Fax No.: (000) 000-0000

Wiring Instructions:

Deutsche Bank Trust Company Americas New York, NY RT/ABA No.: 000000000 For further credit to: Deutsche Bank, AG New York Account No.: 00000000 Reference: Flextronics International USA, Inc. Attn: Xxxxx Xxxx

BANK OF AMERICA, N.A.

Domestic and Eurodollar Lending Office:

Bank of America, N.A. 0000 Xxxxxxx Xxxx. Xxxxxxx, XX 00000

Address for Notices of Borrowing, Notices of Interest Period Selection and Notices of Term Loan Conversion:

Bank of America, N.A. Mail Code CA4-706-05-11 0000 Xxxxxxx Xxxx. Xxxxxxx, XX 00000 Attn: Xxxxxx Xxx Tel. No.: (000) 000-0000 Fax No.: (000) 000-0000

Address for all other notices: (Credit Matters)

Bank of America, N.A. Portfolio Management – Technology 3697 000 Xxxxxxxxxx Xxxxxx, 00xx Xxxxx Mail Code CA5-705-12-08 Xxx Xxxxxxxxx, XX 00000 Attn: Xxxxx X. Xxxxxxx, Managing Director Tel. No.: (000) 000-0000 Fax No.: (000) 000-0000

Wiring Instructions:

Bank of America, N.A., Concord, CA ABA No.: 000000000 For further credit to Account No.: 3750836479 Reference: Flextronics Attn: SBW004 Credit Services

BEAR XXXXXXX CORPORATE LENDING INC

Domestic and Eurodollar Lending Office:

Bear Xxxxxxx & Co. Inc. 000 Xxxx Xxxxxx, 0xx Xxxxx Xxx Xxxx, XX 00000

Address for Notices of Borrowing and Notices of Interest Period Selection:

Bear Xxxxxxx & Co. Inc. 000 Xxxx Xxxxxx, 0xx Xxxxx Xxx Xxxx, XX 00000 Attn: Xx. Xxxxxx Xxxxxxxxxx Tel. No.: (000) 000-0000 Fax No.: (000) 000-0000

Address for all other notices: (Credit Matters)

Bear Xxxxxxx & Co. Inc. 000 Xxxx Xxxxxx, 0xx Xxxxx Xxx Xxxx, XX 00000 Attn: Xxxxxx X. Xxxxxxxxxxxx Tel. No.: (000) 000-0000 Fax No.: (000) 000-0000

Copy of documents to:

Bear Xxxxxxx & Co. Inc. 000 Xxxx Xxxxxx, 0xx Xxxxx Xxx Xxxx, XX 00000 Attn: Xxxxx Xxxxxx Tel. No.: (000) 000-0000 Fax No.: (000) 000-0000

Wiring Instructions:

Citibank, N.A. ABA No.: 0210-00089 Account No.: 0925-3186 Favor of: Bear Xxxxxxx Securities, Corp. Further Credit to Account No.: 096-00220-28 Reference: Flextronics International USA, Inc. Attn: Xxxxx Xxxxxxx

BNP PARIBAS

Domestic and Eurodollar Lending Office:

BNP Paribas 000 Xxxxxxxxxx Xxxxxx Xxx Xxxxxxxxx, XX 00000

Address for Notices of Borrowing, Notices of Interest Period Selection and Notices of Term Loan Conversion:

BNP Paribas 000 Xxxxxxxxxx Xxxxxx Xxx Xxxxxxxxx, XX 00000 Attn: Xxx Xxxx, Vice President - Treasury Tel. No.: (000) 000-0000 Fax No.: (000) 000-0000 Swift: BNPAUS6S

Address for all other notices:

BNP Paribas, Los Angeles Branch 000 Xxxxx Xxxxxxxx Xxxxxx, Xxxxx 0000 Xxx Xxxxxxx, XX 00000 Attn: Xxxxxx Xxxxxx, Vice President – Corporate Banking High Technology Group Tel. No.: (000) 000-0000 Fax No.: (000) 000-0000

With a copy to:

BNP Paribas 000 Xxxxxxxxxx Xxxxxx Xxx Xxxxxxxxx, XX 00000 Attn: Xxxxx Xxx, Vice President – Loan Operations Tel. No.: (000) 000-0000 Fax No.: (000) 000-0000 Telex: 278900 BNPS UR

Wiring Instructions:

The Federal Reserve Bank of New York ABA No.: 000000000 BNP Paribas /BNF/ BNP PARIBAS SAN FRANCISCO /ACA/ 14334000176 For further credit to BNP Paribas Los Angeles /RFB/ Principal Payment (or Commitment Fee, Interest Payment, etc.)

/OBI/ By order: Flextronics International USA. Inc. Attn: Xxxxx Xxxx

CITICORP USA, INC.

Domestic and Eurodollar Lending Office:

Citicorp USA, Inc. Xxx Xxxxxxx Xxxxxx, 00xx Xxxxx Xxx Xxxxxxxxx, XX 00000

Address for Notices of Borrowing, Notices of Interest Period Selection and Notices of Term Loan Conversion:

Citicorp USA, Inc. 2 Penn’s Way, Suite 200 New Castle, Delaware 19720 Attn: Xxxxx Xxxxx Tel. No.: (000) 000-0000 Fax No.: (000) 000-0000

Address for all other notices (Credit Matters):

Citicorp USA, Inc. Xxx Xxxxxxx Xxxxxx, 00xx Xxxxx Xxx Xxxxxxxxx, XX 00000 Attn: Xxxxx Xxxxxxx Tel. No.: (000) 000-0000 Fax No.: (000) 000-0000

Wiring Instructions:

Citibank N.A. New York, New York ABA No.: 000-000-000 For further credit to: Technology Account No.: 00000000 Reference: Flextronics International USA, Inc. Attn: Xxxxx Xxxxx

COMERICA BANK

Domestic and Eurodollar Lending Office:

Comerica Bank One Detroit Center Detroit, Michigan

Address for Notices of Borrowing, Notices of Interest Period Selection and Notices of Term Loan Conversion:

Comerica Bank International Finance Department 000 X. Xxxxx Xxxxx Xxxxxx Xxx Xxxx, XX 00000 Attn: Xxxxxxxxx Xxxxx Tel. No.: (000) 000-0000 Fax No.: (000) 000-0000

Address for all other notices:

Comerica Bank International Finance Department 000 X. Xxxxx Xxxxx Xxxxxx Xxx Xxxx, XX 00000 Attn: Xxxxx Xxxxxxxx Tel. No.: (000) 000-0000 Fax No.: (000) 000-0000

Wiring Instructions:

Comerica Bank One Detroit Center 000 Xxxxxxxx Xxxxxx Xxxxxxx, Xxxxxxxx RT/ABA No.: 000000000 Account number: 00-00000-00000 Reference: Flextronics International USA, Inc. Attn: Xx. Xxxxxx Xxxxxxx

CREDIT SUISSE FIRST BOSTON

Domestic and Eurodollar Lending Office:

Credit Suisse First Boston, Cayman Islands Branch Eleven Xxxxxxx Xxxxxx Xxx Xxxx, XX 00000

Address for Notices of Borrowing and Notices of Interest Period Selection:

Credit Suisse First Xxxxxx Xxxxxx Xxxxxxx Xxxxxx Xxx Xxxx, XX 00000 Attn: Xx Xxxxxxxxx / Xxxxxxx Xxxxxxx Tel. No.: (000) 000-0000 / 3525 Fax No.: (000) 000-0000 / 561-8926

Address for all other notices: (Credit Matters)

Credit Suisse First Xxxxxx Xxxxxx Xxxxxxx Xxxxxx Xxx Xxxx, XX 00000 Attn: Xxxxxx Xxxx / Xxxx Xxxxx Tel. No.: (000) 000-0000 / 9933 Fax No.: (000) 000-0000 / 8319

Wiring Instructions:

The Bank of New York, New York, NY ABA No.: 000000000 Account No.: 000-0000-000 Account Name: CSFB NY Loan Clearing Reference: Flextronics International USA, Inc.

DANSKE BANK A/S

Domestic and Eurodollar Lending Office:

Danske Bank A/S, Cayman Islands Branch 000 Xxxx Xxxxxx, 00xx Xxxxx Xxx Xxxx, XX 00000-0000

Address for Notices of Borrowing, Notices of Interest Period Selection and Notices of Term Loan Conversion:

Danske Bank A/S 000 Xxxx Xxxxxx, 00xx Xxxxx Xxx Xxxx, XX 00000-0000 Attn: Loan Administration Tel. No.: (000) 000-0000 Fax No.: (000) 000-0000

Address for all business/credit matters:

Danske Bank A/S 000 Xxxx Xxxxxx, 00xx Xxxxx Xxx Xxxx, XX 00000-0000 Attn: Xxxxxxx X. Xxxxxxxx – Vice President Tel. No.: (000) 000-0000 Fax No.: (000) 000-0000

Address for documentation matters:

Danske Bank A/S 000 Xxxx Xxxxxx, 00xx Xxxxx Xxx Xxxx, XX 00000-0000 Attn: Xxxxxx X. Xxxxxxx – Vice President Tel. No.: (000) 000-0000 Fax No.: (000) 000-0000

Wiring Instructions:

Danske Bank A/S Xxx Xxxx, XX 00000 ABA No.: 000000000 (Danske Bank, New York Branch) For: Loan Administration Reference: Flextronics International USA, Inc.

FLEET NATIONAL BANK

Domestic and Eurodollar Lending Office:

Fleet National Bank 000 Xxxxxxx Xxxxxx Xxxxxx, XX 00000

Address for Notices of Borrowing, Notices of Interest Period Selection and Notices of Term Loan Conversion:

Fleet National Bank 000 Xxxxxxx Xxxxxx, 0xx Xxxxx Xxxxxx, XX 00000 Attn: Xxxxxx Xxxxx, Loan Administrator Tel. No.: (000) 000-0000 Fax No.: (000) 000-0000

Address for all other notices:

Fleet National Bank 000 Xxxxx Xxxxxx, Xxxxx 000 Xxxx Xxxx, XX 00000 Attn: Xxx X. Xxxxxx-Xxxxxxx or Xxxxxxx Xxxx Tel. No.: (000) 000-0000/4180 Fax No.: (000) 000-0000

Wiring Instructions:

Fleet National Bank Boston, MA ABA No.: 000-000-000 For further credit to: Credit Services Account No.: 0000000-66156 Reference: Flextronics International USA, Inc.

MIZUHO CORPORATE BANK, LIMITED

Domestic and Eurodollar Lending Office:

Mizuho Corporate Bank, Limited 000 Xxxxx Xxxxx Xxxxxx, Xxxxx 0000 Xxx Xxxxxxx, XX 00000

Address for Notices of Borrowing and Notices of Interest Period Selection:

Mizuho Corporate Bank, Limited 00 Xxxxxxxxxxx Xxxxxxxx Xxxxx, 00xx Xxxxx Xxxxxx Xxxx, XX 00000 Attn: Xxxx Xxxxx Tel. No.: (000) 000-0000 Fax No.: (000) 000-0000

Address for all other notices: (Credit Matters)

Mizuho Corporate Bank, Limited 000 Xxxxx Xxxxx Xxxxxx, Xxxxx 0000 Xxx Xxxxxxx, XX 00000 Attn: Mano Xxxxxxxxxx, Vice President Tel. No.: (000) 000-0000 Fax No.: (000) 000-0000

Wiring Instructions:

Mizuho Corporate Bank, Limited, New York, NY ABA No.: 000000000 For further credit to: Loan Admin Dept - LA Account No.: 0000-000-000000 Reference: Flextronics International USA, Inc. Attn: Xxxx Xxxxx

U.S. BANK NATIONAL ASSOCIATION

Domestic Lending Office:

U.S. Bank National Association 000 X. X. Xxx Xxxxxx, Xxxxx 000 Mail Code: PD-OR-P4CB Xxxxxxxx, XX 00000

Eurodollar Lending Office:

U.S. Bank National Association 000 X. X. Xxx Xxxxxx, Xxxxx 000 Mail Code: PD-OR-P4CB Xxxxxxxx, XX 00000

Address for Notices:

U.S. Bank National Association 000 X. X. Xxx Xxxxxx, Xxxxx 000 Mail Code: PD-OR-P4CB Xxxxxxxx, XX 00000 Attn: Xxxxx X. Xxxxxx Tel. No: (000) 000-0000 Fax No: (000) 000-0000

With a copy of all documentation to:

U.S. Bank National Association 000 X. X. Xxx Xxxxxx, Xxxxx 000 Mail Code: PD-OR-P7LN Xxxxxxxx, XX 00000 Attn: Xxxxxx Xxxxxxxx Tel. No: (000) 000-0000 Fax. No: (000) 000-0000

Wiring Instructions:

U.S. Bank National Association Portland, Oregon, USA ABA No.: 000000000 Account No.: 00340012160600 Account Name: Commercial Loan Servicing West Attn: Xxxxxx Xxxxxxxx Reference: Flextronics

XXXXXX COMMERCIAL PAPER INC.

Domestic and Eurodollar Lending Office:

Xxxxxx Commercial Paper Inc. 000 0xx Xxxxxx, 00xx Xxxxx Xxx Xxxx, XX 00000

Address for Notices of Borrowing and Notices of Interest Period Selection:

Xxxxxx Commercial Paper Inc. 000 0xx Xxxxxx, 00xx Xxxxx Xxx Xxxx, XX 00000 Attn: Xxxx Xxxxx Tel. No.: (000) 000-0000 Fax No.: (000) 000-0000

Address for all other notices: (Credit Matters)

Xxxxxx Commercial Paper Inc. 000 0xx Xxxxxx, 00xx Xxxxx Xxx Xxxx, XX 00000 Attn: G. Xxxxxx Xxxxxxx Tel. No.: (000) 000-0000 Fax No.: (000) 000-0000

Wiring Instructions:

Citibank, N.A., New York, NY ABA No.: 000000000 Account No.: 00000000 Account Name: LCPI Bank Loans Reference: Flextronics International USA, Inc.

SKANDINAVISKA ENSKILDA XXXXXX XX (publ)

Domestic and Eurodollar Lending Office:

Skandinaviska Enskilda Xxxxxx XX (publ) Xxxxxxxxxxxxxxxxxxx 0 000 00 Xxxxxxxxx, Xxxxxx

Address for Notices of Borrowing and Notices of Interest Period Selection:

Skandinaviska Enskilda Xxxxxx XX (publ) Xxxxxxxxxx 000 000 00 Xxxxxxxxx, Xxxxxx Attn: Xxxxxxxxx Xxxxxxx / Xxxxx Xxxxxxxxxx Tel. No.: 00 0 0000000 / 00 0 0000000 Fax No.: 00 0 0000000

Address for all other notices: (Credit Matters)

Skandinaviska Enskilda Xxxxxx XX (publ) 0 Xxxxxx Xxxxxx Xxxxxx XX0X 0XX, Xxxxxx Xxxxxxx Attn: Xxxxx Xxxxxxxx, Debt Capital Markets Tel. No.: 00 00 0000 0000 Fax No.: 00 00 0000 0000

With a copy to:

Skandinaviska Enskilda Xxxxxx XX (publ) Xxxxxxxxxx 00 000 00 Xxxxx, Xxxxxx Attn: Xxx Xxxxxxxx, SEB Client Relationship Management Tel. No.: (00) 00-0000000 Fax No.: (00) 00-000-000

Wiring Instructions:

Bank of New York, New York, NY ABA No.: 000000000 Account No.: 890 0000000 Swift Code: XXXXXX0X Reference: Flextronics International Ltd.

THE BANK OF NOVA SCOTIA

Domestic and Eurodollar Lending Office:

The Bank of Nova Scotia Atlanta Agency 000 Xxxxxxxxx Xxxxxx, X.X., Xxxxx 0000 Xxxxxxx, XX 00000

Address for Notices of Borrowing, Notices of Interest Period Selection and Notices of Term Loan Conversion:

The Bank of Nova Scotia Atlanta Agency 000 Xxxxxxxxx Xxxxxx, X.X., Xxxxx 0000 Xxxxxxx, XX 00000 Attn: Xxxx Xxxx Tel. No.: (000) 000-0000 Fax No.: (000) 000-0000

Address for all other notices:

The Bank of Nova Scotia San Francisco Agency 000 Xxxxxxxxxx Xxxxxx, Xxxxx 0000 Xxx Xxxxxxxxx, XX 00000 Attn: Xxxxxxxxxxx Xxxxxx Tel. No.: (000) 000-0000 Fax No.: (000) 000-0000

Wiring Instructions:

The Federal Reserve Bank of New York New York, New York ABA No.: 000-000-000 Account Name: The Bank of Nova Scotia, 0 Xxxxxxx Xxxxx, Xxx Xxxx, Xxx Xxxx 00000 For further account of: BNS San Francisco Agency Loan Servicing Account Account No.: 0000000 Reference: Flextronics International USA, Inc.

UNION BANK OF CALIFORNIA, N.A.

Domestic and Eurodollar Lending Office:

Union Bank of California, N.A. 00 Xxxxxxx Xxxxxxxxx, Xxxxx 000 Xxx Xxxx, XX 00000

Address for Notices of Borrowing and Notices of Interest Period Selection:

Union Bank of California, N.A. 000 Xxxxxxx Xxxxxx Xxxxx Xxxxxxxx Xxxx, XX 00000 Attn: Xxxxxxx Xxxxx, Commercial Loan Service Officer Tel. No.: (000) 0000000 Fax No.: (000) 000-0000

Address for all other notices: (Credit Matters)

Union Bank of California, N.A. 00 Xxxxxxx Xxxxxxxxx, Xxxxx 000 Xxx Xxxx, XX 00000 Attn: Xxxxxxxxx Xxxxxxxx, Vice President Tel. No.: (000) 000-0000 Fax No.: (000) 000-0000

Wiring Instructions:

Union Bank of California, N.A. ABA No.: 000000000 Account No.: Wire Clearing Account 77070196431 Reference: Flextronics International USA, Inc. Attn: Commercial Loan Operations

ERSTE BANK DER OESTERREICHISCHEN SPARKASSEN AG

Domestic Lending Office:

Erste Bank der oesterreichischen Xxxxxxxxxx XX Xxxxxx 00 0000 Xxxx, Xxxxxxx

Eurodollar Lending Office:

Erste Bank der oesterreichischen Sparkassen XX Xxxxxx 21 1010 Xxxx, Austria

Address for Notices:

Credit Issues:

Erste Bank der oesterreichischen Xxxxxxxxxx XX Xxxxxx 00 0000 Xxxx, Xxxxxxx Attn: Stefan Lichtanecker Tel. No: 00-0-0000-00000 Fax No: 00-0-0000-000000

Operations Issues:

Erste Bank der oesterreichischen Xxxxxxxxxx XX Xxxxxx 00 0000 Xxxx, Xxxxxxx Attn: Xxxxxxx Xxxxxx Tel. No: 00-0-0000-00000 Fax No: 00-0-0000-000000

Wiring Instructions:

X.X. Xxxxxx Chase Bank Box 2041, Xxx Xxxx, XX 00000 For Further Credit To: Erste Bank der oesterreichischen Sparkassen AG Account No.: 40341805675 Account Name: X.X. Xxxxxx Xxxxx Bank Attn: Xxxxxxx Xxxxxx Reference: Flextronics 364-Day R/C Facility

KEY CORPORATE CAPITAL, INC.

Domestic Lending Office:

Key Corporate Capital, Inc. 0 Xxxxxxxxxxx Xxxxxx, Xxxxx 0000 Xxx Xxxxxxxxx, XX 00000

Eurodollar Lending Office:

Key Corporate Capital, Inc. 0 Xxxxxxxxxxx Xxxxxx, Xxxxx 0000 Xxx Xxxxxxxxx, XX 00000

Address for Notices:

Key Corporate Capital, Inc. 000 000xx Xxxxxx X.X., 0xx Xxxxx Xxxxxxxx, XX 00000 Attn: Xxxxxx X. Xxxxxxx Tel. No: (000) 000-0000 Fax No: (000) 000-0000

With a copy of all documentation to:

Key Corporate Capital, Inc. 000 X. Xxxxxxxxxx Xxxx. Xxxxx, XX 00000 Attn: Specialty Services Team Tel. No: (000) 000-0000 Fax. No: (000) 000-0000

Wiring Instructions:

Key Corporate Capital, Inc. Seattle, WA ABA No.: 000000000 Account No.: 3072 Account Name: Western Loan Ops Attn: Specialty Services Team Reference: Flextronics

ROYAL BANK OF CANADA

Domestic Lending Office:

Royal Bank of Canada New York Branch Xxx Xxxxxxx Xxxxx Xxx Xxxx, Xxx Xxxx 00000-0000

Eurodollar Lending Office:

Royal Bank of Canada New York Branch Xxx Xxxxxxx Xxxxx Xxx Xxxx, Xxx Xxxx 00000-0000

Address for Notices:

Royal Bank of Canada New York Branch Xxx Xxxxxxx Xxxxx, 0xx Xxxxx Xxx Xxxx, Xxx Xxxx 00000-0000 Attn: Manager, Loans Administration Tel. No.: (000) 000-0000 Fax No.: (000) 000-0000

with a copy to:

Royal Bank of Canada Xxx Xxxxxxx Xxxxx, 0xx Xxxxx Xxx Xxxx, Xxx Xxxx 00000-0000 Attn: X. Xxxxxx/ X. Xxxxxxx Tel. No.: (000) 000-0000/ (000) 000-0000 Fax No.: (000) 000-0000/ (000) 000-0000

Wiring Instructions:

Royal Bank of Canada New York Branch Attention: Loans Administration JPMorgan Chase Bank, New York ABA # 000000000 Account of Royal Bank of Canada, New York Account No.: 000-0-000000 for further credit to account no. 000-000-0 Ref: Flextronics

ATTACHMENT B

SCHEDULE II

PRICING GRID

FACILITY B

														APPLICABLE		APPLICABLE
														MARGIN		MARGIN
														FOR		FOR
														LIBOR RATE		LIBOR RATE
														BORROWINGS		BORROWINGS
														WHEN		WHEN
										APPLICABLE		COMBINED		COMBINED
FIL’S						MARGIN		TOTAL		TOTAL
SENIOR						FOR		COMMITMENT		COMMITMENT		COMMITMENT
DEBT		PRICING		BASE RATE		USAGE		USAGE		FEE
RATING		LEVEL		BORROWINGS		IS £ 33%		IS > 33%		PERCENTAGE
³ BBB / Baa2			1				0	%			1.125	%			1.250	%			0.150	%
BBB- / Baa3			2				0	%			1.375	%			1.500	%			0.200	%
BB+ / Ba1			3				0	%			1.500	%			1.750	%			0.250	%
BB / Ba2			4				0	%			1.750	%			2.000	%			0.350	%
£ BB- / Ba3			5				0	%			2.000	%			2.500	%			0.500	%

GUARANTOR CONSENT LETTER

March 7, 2003

TO:    ABN AMRO BANK, N.V.,

          As Agent for the Lenders under the Credit Agreement referred to below

          1.     Reference is made to the following:

            (a)     The Credit Agreement dated as of March 8, 2002 (the “Credit Agreement”) among Flextronics International Ltd. (“Borrower”), the financial institutions which are from time to time parties thereto (the “Lenders”), and ABN AMRO Bank, as agent for the Lenders (“Agent”);

            (b)     The Guaranty dated as of March 8, 2002 (the “Guaranty”) executed by each of the undersigned (each a “Guarantor,” and collectively, the “Guarantors”) in favor of the Lenders and Agent; and

            (c)     The First Amendment to Credit Agreement dated as of March 7, 2003 (the “First Amendment”) among Borrower, the Facility B Lenders and Agent.

          2.     Each Guarantor hereby consents to the First Amendment including without limitation the extension of the Facility B Maturity Date from March 7, 2003 to March 5, 2004. Each Guarantor expressly agrees that such amendment shall in no way affect or alter the rights, duties, or obligations of Guarantor, the Lenders or Agent under the Guaranty.

          3.     From and after the date hereof, the term “Credit Agreement” as used in the Guaranty shall mean the Credit Agreement, as amended by the First Amendment.

          4.     The Guarantors’ consent to the First Amendment shall not be construed (i) to have been required by the terms of the Guaranty or any other document, instrument or agreement relating thereto or (ii) to require the consent of the Guarantors in connection with any future amendment of the Credit Agreement or any other Credit Document.

          5.     Each Guarantor represents and warrants to Agent that (i) the corporate documents and resolutions (such items, the “Guarantor Deliverables”) of such Guarantor are in the form delivered to Agent on the Closing Date and (ii) such Guarantor’s Guarantor Deliverables are in full force and effect and have not been amended, supplemented, revoked or repealed since such date.

          IN WITNESS WHEREOF, each Guarantor has executed this Guarantor Consent Letter as of the day and year first written above.

	FLEXTRONICS INTERNATIONAL USA, INC.
	By:	Name:
		Title:
	FLEXTRONICS HOLDING USA, INC.
	By:	Name:
		Title:
	FLEXTRONICS INTERNATIONAL LATIN AMERICA (L) LTD.
	By:	Name:
		Title:
	FLEX INTERNATIONAL MARKETING (L) LTD.
	By:	Name:
		Title:
	FLEXTRONICS MANUFACTURING MEXICO, S.A. DE C.V.
	By:	Name:
		Title:

	FLEXTRONICS INTERNATIONAL SINGAPORE PTE LTD.
	By:	Name:
		Title:
	FLEXTRONICS HOLDINGS (UK) LIMITED
	By:	Name:
		Title:
	MULTILAYER TECHNOLOGY, INC.
	By:	Name:
		Title:
	FLEXTRONICS USA, INC.
	By:	Name:
		Title:
	FLEXTRONICS ENCLOSURES, INC.
	By:	Name:
		Title:

	FLEXTRONICS DISTRIBUTION, INC.
	By:	Name:
		Title:
	FLEXTRONICS TECHNOLOGY (SHAH ALAM) SDN BDH
	By:	Name:
		Title:
	FLEXTRONICS MANUFACTURING FRANCE SNC
	By:	Name:
		Title:
	FLX CYPRUS LIMITED
	By:	Name:
		Title:
	IEC HOLDINGS LTD.
	By:	Name:
		Title:

	FLEXTRONICS (MAYALSIA) SDN BDH
	By:	Name:
		Title: