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Ingram Micro Announces Offering of Convertible Senior Debentures

SANTA ANA, Calif., June 3 /PRNewswire/ -- Ingram Micro Inc. (NYSE:IM) announced today that it intends, subject to market and other conditions, to raise up to approximately $400 million (excluding the proceeds of an over- allotment option, if any) through a private offering of zero coupon convertible senior debentures to qualified institutional buyers. The Company stated that it intends to use the net proceeds of the offering to repay outstanding indebtedness. No other terms were disclosed.

The offered securities will not be registered under the Securities Act of 1933, as amended, or applicable state securities laws, and may not be offered or sold in the United States or to, or for the account or benefit of, U.S. persons absent registration under the Securities Act and applicable state securities law or available exemptions from such registration requirements. Accordingly, the securities will be offered and sold in the United States solely to qualified institutional buyers as defined in Rule 144A under the Securities Act. Sale of the debentures is subject to market and other conditions, and there can be no assurance that the debentures will be sold, or that the net proceeds of any sale will not be lower than anticipated.

Source: Ingram Micro

Contact: Kimmerly W. Strohm, Investor Relations, 714-382-4400, or
Kirsten Frosh, Media Relations, 714-382-2727, both of Ingram Micro


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