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Apollo wants to buy Tech Data’s debt

March 11, 2020 - Funds associated with Apollo Global Management have launched cash offers to buy two separate series of senior notes, representing debt owed by Tech Data Corp. The offers are being conducted in connection with Apollo's $6 billion plan to buy Tech Data (Nasdaq: TECD) and take the Clearwater-based IT distributor private. Apollo is offering to buy Tech Data's 3.7% senior notes due in 2022 and the 4.95% senior notes due in 2027. Apollo also launched a consent solicitation to amend the indenture and global securities establishing the 2022 notes and the 2027 notes to eliminate the requirement to make a “change of control” offer in connection with the acquisition, a regulatory filing said.

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