Intcomex, Inc. Completes $150 Million Debt Refinancing

MIAMI--()--Intcomex, Inc. (Intcomex or the Company), the US-based value-added distributor of information technology products to Latin America and the Caribbean, today announced that on January 10, 2014 it closed on a $150 million revolving credit facility maturing in 2019 through PNC Bank, National Association (or PNC Bank) and BankUnited N.A. (or BankUnited). The Company used a portion of the proceeds from the new credit facility to pay the $100 million outstanding aggregate principal amount of its 13 ¼% Second Priority Senior Notes due December 2014. Concurrent with the closing of this transaction, the Company received approximately $20 million in additional equity from its existing shareholders.

Intcomex expects the refinancing to generate substantial ongoing interest expense savings and gradually increase the Company’s overall liquidity.

“I am extremely pleased to complete this financing, which will allow Intcomex to achieve a significant improvement in overall profitability and enhance the Company’s cash flows from day one,” stated Intcomex’s President and Chief Executive Officer, Michael Shalom. “This transaction will provide Intcomex with a solid and flexible foundation to finance its growth and continue its leadership position in the Latin American technology markets. I want to express my sincere appreciation to the talented teams at PNC Capital Markets, PNC Bank and BankUnited for their commitment and confidence in our Company. I also want to thank our vendor partners and shareholders for their continued support and investment in Intcomex,” continued Mr. Shalom.

PNC Capital Markets LLC along with BankUnited are co-lead arrangers in the financing transaction.

About Intcomex:

Intcomex is a US-based value-added distributor of information technology products to Latin America and the Caribbean. Intcomex provides and distributes a wide range of products including computer components, peripherals, software, computer systems, accessories, networking products, digital consumer electronics and mobile devices to more than 50,000 customers in 39 countries. Intcomex also delivers a unique set of services including training on new products, technical support, warranty services and assistance with customs, duties and taxes. Intcomex prides itself on its outstanding technical support areas, efficient shipping and receiving procedures and effective return-to-manufacturer authorization processes. The driving force behind Intcomex’s overall success is its commitment to fulfill the needs of its customers.

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995:

Certain statements in this press release that are not statements of historical fact may constitute forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995 (the “Reform Act”). Forward-looking statements are identified by such words and phrases as “anticipate,” “believe,” “estimate,” “expect,” “look forward to,” “projected,” and other similar phrases. All statements addressing operating performance, events, or developments that we expect or anticipate will occur in the future, including statements relating to revenue growth, earnings, earnings-per-share growth, or similar projections, are forward-looking statements within the meaning of the Reform Act. Because they are forward-looking, they should be evaluated in light of important risk factors that could cause our actual results to differ materially from our anticipated results. The information provided in this report is based upon the facts and circumstances known at this time. Readers are cautioned not to place undue reliance on these statements that speak only as of the date the statements were made.

Contacts

Intcomex Inc.
Elizabeth A. Finamore, 305-477-6230, Ext 500325
Controller/Director External Reporting
efinamore@intcomex.com
http://store.intcomex.com

Contacts

Intcomex Inc.
Elizabeth A. Finamore, 305-477-6230, Ext 500325
Controller/Director External Reporting
efinamore@intcomex.com
http://store.intcomex.com