SAN FRANCISCO -- Fabrinet has entered into a facility agreement to borrow $30 million to construct an electronics manufacturing plant in Klongneung, Thailand.

Under terms of the agreement, TMB Bank will provide Fabrinet a term loan facility for up to 960 million baht ($30 million), all of which must be used exclusively to construct the building, known as Pinehurst Building Six. The interest rate on the loan is 5.28% per annum, and payments are due to expire March 2017.

Fabrinet is one of the fastest-growing Tier 2 contract assembly companies in the world, with revenues of $652 million in calendar 2010, up from $379 million in 2009.

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