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Insight Enterprises (NASDAQ: NSIT) has announced the pricing of $500 million in senior notes with an interest rate of 6.625% due 2032. The proceeds will be used to pay down part of the company's senior secured revolving credit facility, which matures in 2027, and for general corporate purposes. The notes will be senior unsecured obligations guaranteed by current and future U.S. subsidiaries. The sale is expected to close on May 20, 2024, pending standard closing conditions. Interest payments are scheduled semiannually on May 15 and November 15, starting in November 2024. The offering is to qualified institutional buyers and non-U.S. persons under specific regulatory exemptions.
Insight Enterprises (NASDAQ: NSIT) announced a proposed $500 million offering of Senior Notes due 2032. The proceeds are expected to be used to repay part of its outstanding borrowings under a senior secured revolving credit facility due 2027, with any remaining funds allocated for general corporate purposes. These senior unsecured notes will be guaranteed by the company's existing and future U.S. subsidiaries that are guarantors or borrowers under its ABL facility, subject to exceptions. The notes will be sold to qualified institutional buyers and non-U.S. persons outside the U.S. under Securities Act exemptions.
Insight Enterprises (Nasdaq: NSIT) is set to participate in the J.P. Morgan 52nd Annual Global Technology, Media, and Communications Conference on Tuesday, May 21, 2024, at 8:10 AM ET. Glynis Bryan, the CFO, will represent the company. The event will be broadcast live online and will be accessible through Insight's investor relations website, where other recent webcasts and presentations can also be viewed.
Insight Enterprises, Inc. (NSIT) plans potential offering of senior notes to repay debts and for general corporate purposes. The Company aims to hold investor meetings in an exempt transaction under the Securities Act of 1933. The Offering's terms and final decision are uncertain. This PR is solely for informational purposes, not an offer to sell or buy securities.
Insight Enterprises, Inc. CFO Glynis Bryan is set to retire on December 31, 2024, after 17 years with the company. An executive search firm will look for her successor. Bryan will assist in the transition to ensure a smooth handover. CEO Joyce Mullen praised Bryan's leadership and impactful contribution to Insight's transformation.
Insight Enterprises, Inc. (NASDAQ: NSIT) reported record first quarter results for the quarter ended March 31, 2024. Key highlights include a 13% increase in gross profit to $440.9 million, 24% growth in Insight Core services gross profit, and a 33% growth in cloud gross profit. Earnings from operations increased by 29% to $100.0 million, with adjusted earnings increasing by 30% to $121.8 million. Diluted earnings per share rose by 30% to $1.74, and adjusted diluted earnings per share reached $2.37, a 33% increase year over year.
Insight Enterprises (NASDAQ: NSIT) has acquired Infocenter, a leading ServiceNow consulting and implementation partner, to enhance its automation solutions portfolio. The move comes amidst a growing demand for intelligent enterprise automation, with the market estimated to reach $220 billion by 2025. Infocenter's expertise in ServiceNow capabilities will strengthen Insight's position in delivering industry-leading workflow automation solutions. Through this acquisition, Insight aims to provide unified cross-enterprise experiences and valuable insights to its clients.
