Today, TD SYNNEX Corporation (the “Company”) announced the final results of the Company's offer to exchange the Company's outstanding unregistered notes for new registered notes (the "Exchange Offer").
Under the Exchange Offer, the Company offered to exchange up to (i) $700,000,000 aggregate principal amount of new 1.250% Senior Notes due 2024, (ii) $700,000,000 aggregate principal amount of new 1.750% Senior Notes due 2026, (iii) $600,000,000 aggregate principal amount of new 2.375% Senior Notes due 2028 and (iv) $500,000,000 aggregate principal amount of new 2.650% Senior Notes due 2031 (collectively, the “Exchange Notes”), the issuance of which has been registered under the Securities Act of 1933, as amended (the "Securities Act"), for a like principal amount of its unregistered (i) $700,000,000 aggregate principal amount of its outstanding 1.250% Senior Notes due 2024 (the “Outstanding 2024 Notes”), (ii) $700,000,000 aggregate principal amount of its outstanding 1.750% Senior Notes due 2026 (the “Outstanding 2026 Notes”), (iii) $600,000,000 aggregate principal amount of its outstanding 2.375% Senior Notes due 2028 (the “Outstanding 2028 Notes”) and (iv) $500,000,000 aggregate principal amount of its outstanding 2.650% Senior Notes due 2031 (the “Outstanding 2031 Notes” and, together, with the Outstanding 2024 Notes, the Outstanding 2026 Notes and Outstanding 2028 Notes, the “Outstanding Notes”). The terms of the Exchange Notes offered in the Exchange Offer are substantially identical to the terms of the respective series of the Outstanding Notes, except that the Exchange Notes are registered under the Securities Act, and certain transfer restrictions, registration rights, and additional interest provisions relating to the Outstanding Notes do not apply to the Exchange Notes.
The Exchange Offer expired at 5:00 p.m. New York City time, on July 14, 2022 (the "Expiration Date"). As of the Expiration Date, (i) $700,000,000, or 100.00%, of the aggregate principal amount of Outstanding 2024 Notes, (ii) $698,970,000, or 99.853%, of the aggregate principal amount of Outstanding 2026 Notes, (iii) $600,000,000, or 100.00%, of the aggregate principal amount of Outstanding 2028 Notes and (iv) $499,975,000, or 99.995%, of the aggregate principal amount of Outstanding 2031 Notes, had been validly tendered and not validly withdrawn.
The Company accepted all of the Outstanding Notes which were validly tendered and not validly withdrawn as of the Expiration Date and issued a like principal amount of Exchange Notes in exchange for such Outstanding Notes. The Company did not receive any proceeds from the Exchange Offer. The settlement of the Exchange Offer is expected to occur on July 15, 2022.
This press release is for informational purposes only and is neither an offer to exchange or sell, nor a solicitation of an offer to buy or exchange, the Exchange Notes. The Exchange Offer is made solely pursuant to the prospectus dated June 14, 2022, including any supplements thereto. The Exchange Offer is not being made to holders in any jurisdiction in which the making or acceptance thereof would not be in compliance with the securities, blue sky, or other laws of such jurisdiction.
ABOUT TD SYNNEX
TD SYNNEX (NYSE: SNX) is a leading global distributor and solutions aggregator for the IT ecosystem. We’re an innovative partner helping more than 150,000 customers in 100+ countries to maximize the value of technology investments, demonstrate business outcomes and unlock growth opportunities. Headquartered in Clearwater, Florida, and Fremont, California, TD SYNNEX’ 22,000 co-workers are dedicated to uniting compelling IT products, services and solutions from 1,500+ best-in-class technology vendors. Our edge-to-cloud portfolio is anchored in some of the highest-growth technology segments including cloud, cybersecurity, big data/analytics, IoT, mobility and everything as a service. TD SYNNEX is committed to serving customers and communities, and we believe we can have a positive impact on our people and our planet, intentionally acting as a respected corporate citizen. We aspire to be a diverse and inclusive employer of choice for talent across the IT ecosystem.
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