TECH DATA CORPORATION (NASDAQ:TECD) Files An 8-K Termination of a Material Definitive Agreement

TECH DATA CORPORATION (NASDAQ:TECD) Files An 8-K Termination of a Material Definitive Agreement
Item 1.02.

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Termination of a Material Definitive Agreement.

On October 25, 2017, Tech Data Corporation (the "Company”) terminated all agreements relating to its synthetic lease arrangement with SunTrust Bank, as lessor, and SunTrust Equity Funding, LLC, as agent, including the fourth amended and restated participation agreement and fourth amended and restated lease agreement (collectively, as amended and along with related transaction documents and agreements, the “Synthetic Lease”) under which the Company leased certain logistics centers and office facilities. to a termination agreement, the Company terminated the Synthetic Lease and purchased the real property that was subject to the Synthetic Lease for $156.2 million, which amount was determined by the Synthetic Lease. The properties acquired as a result of the termination of the Synthetic Lease are located in Clearwater and Miami, Florida; Fort Worth, Texas; Fontana, California; Suwanee, Georgia; Swedesboro, New Jersey; and South Bend, Indiana.


Tech Data Corporation is a wholesale distributor of technology products. The Company serves as a link in the technology supply chain by bringing products from the technology vendors to market, as well as providing its customers with logistics capabilities and services. It operates through the segment of distributing technology products, logistics management and other value-added services. It operates in two geographic segments: the Americas and Europe. It provides resellers training and technical support suite of electronic commerce tools customized shipping documents product configuration or integration services and access to financing programs. Its customers include value-added resellers, direct marketers, retailers and corporate resellers who support the diverse technology needs of end users. It sells its products to customers in approximately 100 countries throughout North America, South America, Europe, the Middle East and Africa.

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