Ingram Micro Will Offer Debentures
Ingram Micro Inc. said Wednesday that it plans to repay some of its debt by raising about $400 million through a private offering of debentures, a form of corporate IOU. The debentures are due in 2018. The Santa Ana-based distributor of technology products did not release the interest it has set for the tender offer.
Ingram’s stock price dropped 9.3%, or $4 a share, Wednesday to close at $39.38 in heavy trading on the New York Stock Exchange amid talk about an industrywide slowing in sales of computer hardware.