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Tiger Merger Sub Co. Extends Expiration Date to June 16, 2020 for Tender Offers and Consent Solicitations Relating to Tech Data Corporationa??s 3.700% Senior Notes due 2022 and 4.950% Senior Notes...

NEW YORK, June 02, 2020 (GLOBE NEWSWIRE) -- Tiger Merger Sub Co. (the a??Offerora??), an affiliate of certain investment funds managed by affiliates of Apollo Global Management, Inc. (together with its consolidated subsidiaries, a??Apolloa??), announced today that it has further extended the Expiration Date (as defined in the Offer to Purchase (as defined below)) for the previously announced Tender Offers and Consent Solicitations (each as defined below) relating to Tech Data Corporationa??s (i) 3.700% Senior Notes due 2022 (the a??2022 Notesa??) and (ii) 4.950% Senior Notes due 2027 (the a??2027 Notesa?? and, together with the 2022 Notes, the a??Notesa??). The Expiration Date was previously extended to June 2, 2020. As a result of this further extension, the Expiration Date will now be 5:00 p.m., NewA York City time, on June 16, 2020 (unless further extended or earlier terminated).
As previously announced, on March 10, 2020, the Offeror launched tender offers to purchase for cash (collectively, the a??Tender Offersa??) any and all of the outstanding Notes of each series. In connection with the Tender Offers, the Offeror also commenced a solicitation of consents from the holders of each series of Notes (collectively, the a??Consent Solicitationsa??) to amend the Indenture, dated as of January 17, 2017, as supplemented in the case of the 2022 Notes by the Global Security for the 3.700% Senior Note due 2022 and as supplemented in the case of the 2027 Notes by the Global Security for the 4.950% Senior Note due 2027, as further amended or supplemented (the a??Indenturea??).The Tender Offers and Consent Solicitations are subject to the terms and conditions set forth in the Offer to Purchase and Consent Solicitation Statement dated March 10, 2020, relating thereto (the a??Offer to Purchasea??). 2022 Notes validly tendered with consents after the Early Tender Date (as defined in the Offer to Purchase) and prior to the Expiration Date will only be eligible to receive the applicable Tender Consideration (as defined in the Offer to Purchase).A  2027 Notes validly tendered after the Early Tender Date and prior to the Expiration Date will only be eligible to receive the applicable Tender Consideration (as defined in the Offer to Purchase).A  As contemplated by the Offer to Purchase, the Offeror is no longer accepting consents with tenders of 2027 Notes and therefore holders of 2027 Notes are no longer required to deliver consents with tenders of 2027 Notes. Any Notes previously tendered or tendered at a future time may no longer be validly withdrawn (except as required by law).As of 5:00 p.m., New York City time, on June 2, 2020, the previous Expiration Date, the Offeror has been advised by Global Bondholder Services Corporation, the tender agent and information agent for the Tender Offers and Consent Solicitations, that Notes were validly tendered and not withdrawn with respect to (i) $434,133,000 aggregate principal amount of the 2022 Notes, representing approximately 86.83% of the outstanding 2022 Notes, and (ii) $368,891,000 aggregate principal amount of the 2027 Notes, representing approximately 73.78% of the outstanding 2027 Notes.The Tender Offers and Consent Solicitations are being conducted in connection with the previously announced merger agreement pursuant to which, among other things, Tiger Midco, LLC, the parent of the Offeror, has agreed to acquire Tech Data Corporation (the a??Mergera??). The Offerora??s obligation to accept and pay for the Notes tendered in each Tender Offer is conditioned upon the substantially concurrent closing of the Merger and the satisfaction or waiver of certain other conditions precedent.
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