Tiger Merger further extends tenders for Tech Data notes to June 2

Chicago, May 19 – Tiger Merger Sub Co. further extended the tender offers and consent solicitations related to Tech Data Corp.’s $500 million of 4.95% senior notes due 2027 (Cusip: 878237AGI) and $500 million of 3.7% senior notes due 2022 (Cusip: 878237AH9), according to a press release.

The expiration date has been moved to 5 p.m. ET on June 2, extended from 5 p.m. ET on May 19, pushed back from May 5 and before that from April 21 and April 7.

As of 5 p.m. ET on May 19, tenders had been received for $368,885,000, or 73.78%, of the 4.95% notes and for $433,708,000, or 86.74%, of the 3.7% notes.

The figures were up slightly from the most recent deadline, by which time the company had received tenders of $368,823,000 of the 4.95% notes and $433,346,000 of the 3.7% notes, as previously reported.

As of 5 p.m. ET on March 24, the early tender deadline, the company had received a sufficient level of consent in the tender offer and solicitation to amend the notes’ indentures.

As previously reported, Tiger Merger announced consent solicitations and tender offers on March 10 in connection with the previously announced merger agreement under which Tiger Midco, LLC, the parent of Tiger Merger Sub, has agreed to acquire Tech Data.

Holders who tendered their notes and related consents as part of the offers to purchase did not have to provide consents as part of the separate consent solicitation, and holders who provided consents as part of the separate solicitation may not have tendered their notes and related consents as part of the tender offer.

Approval of the proposed amendments required consents from the holders of at least a majority in principal amount of a series of notes, excluding any notes owned by Tech Data or its affiliates.

Under the separate consent solicitation for the 4.95% notes, holders who delivered their consents to the amendments by the March 24 deadline, were eligible to receive a consent fee of $5 per $1,000 principal amount of notes.

Noteholders are no longer required to deliver any consents with tenders of the 4.95% 2027 notes.

Holders were being offered a total consideration of $1,015 per $1,000 principal amount of 4.95% notes and $1,012.50 per $1,000 principal amount of 3.7% notes tendered by the early participation time, 5 p.m. ET on March 24.

In each case, the total consideration included a $30 early participation premium that will not be paid to holders who tender after the early deadline.

Credit Suisse Securities (USA) LLC (212 538-1862), Mizuho Securities USA LLC (212 205-7736) and RBC Capital Markets, LLC (212 618-7843) are the solicitation agents and dealer managers.

Global Bondholder Services Corp. (212 430-3774 or 866 807-2200) is the information and tender agent.

Based in Clearwater, Fla., Tech Data is a technology products distribution company. Tiger Merger Sub is an affiliate of certain investment funds managed by affiliates of Apollo Global Management, Inc.

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