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Latham & Watkins Advises the Initial Purchasers in SYNNEX’s Offering of Senior Notes

July 30, 2021
Capital Markets team advised on the offering by the technology company.

SYNNEX Corporation (SYNNEX) has priced an offering of (i) US$700,000,000 aggregate principal amount of 1.25% Senior Notes due 2024, (ii) US$700,000,000 aggregate principal amount of 1.750% Senior Notes due 2026, (iii) US$600,000,000 aggregate principal amount of 2.375% Senior Notes due 2028, and (iv) US$500,000,000 aggregate principal amount of 2.65% Senior Notes due 2031 (collectively, the Notes, and such offering, the Notes Offering). The Notes are being sold in a private placement to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (Securities Act) and to certain persons outside of the United States pursuant to Regulation S under the Securities Act. The Notes Offering is expected to close on or about August 9, 2021, subject to customary closing conditions.

The Notes Offering is part of the financing for the previously announced proposed merger between SYNNEX Corporation (NYSE: SNX) and Tech Data under which SYNNEX and Tech Data will combine in a transaction valued at approximately US$7.2 billion, including net debt.

Latham & Watkins LLP represents the initial purchasers in the offering with a capital markets deal team led by New York partner Stelios Saffos, with New York associates Paul Rafla and Robyn Sablove. Advice was also provided on tax matters by New York partner Bora Bozkurt, New York associate Michael Syku; on intellectual property matters by New York partner Jeffrey Tochner; on compliance matters by Washington, D.C. partners Erin Brown Jones, Les Carnegie, and Joseph Bargnesi, with Washington, D.C. associate Andrew Galdes; and on benefits and compensation matters by New York associate Anne Bracaglia.