By Andrea Heisinger
New York, Aug. 16 - Ingram Micro Inc. priced $300 million of 5.25% seven-year senior unsecured notes on Monday to yield 5.25%, an informed source said.
The notes (Baa3/BBB-/BBB-) priced at 99.998 with a spread of Treasuries plus 326.7 basis points.
The notes have a make-whole call at 50 bps over Treasuries and feature a change-of-control put of 101%.
Bookrunners were Bank of America Merrill Lynch and Morgan Stanley & Co. Inc.
Proceeds are being used for general corporate purposes, including refinancing the company's $251 million term loan due 2012.
The global information technology wholesale distributor is based in Santa Ana, Calif.
| Issuer: | Ingram Micro Inc.
|
| Issue: | Senior unsecured notes
|
| Amount: | $300 million
|
| Maturity: | Sept. 1, 2017
|
| Bookrunners: | Bank of America Merrill Lynch, Morgan Stanley & Co. Inc.
|
| Coupon: | 5.25%
|
| Price: | 99.998
|
| Yield: | 5.25%
|
| Spread: | Treasuries plus 326.7 bps
|
| Call: | Make-whole at Treasuries plus 50 bps
|
| Change-of-control put: | 101%
|
| Trade date: | Aug. 16
|
| Settlement date: | Aug. 19
|
| Ratings: | Moody's: Baa3
|
| Standard & Poor's: BBB-
|
| Fitch: BBB-
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
