Press release
CDW Corporation Announces Proposed Registered Offering of $550 Million of Senior Notes due 2028
LINCOLNSHIRE, Ill., Sept. 12, 2019 (GLOBE NEWSWIRE) -- CDW Corporation (NASDAQ: CDW), a leading multi-brand technology solutions provider to business,
About this update from Cdw Corporation
[{"type":"text","content":"LINCOLNSHIRE, Ill., Sept. 12, 2019 (GLOBE NEWSWIRE) -- CDW Corporation (NASDAQ: CDW), a leading multi-brand technology solutions provider to business, government, education and healthcare customers in the United States, the United Kingdom and Canada, today announced that its wholly owned subsidiaries CDW LLC and CDW Finance Corporation (together, the “Issuers”) intend to offer, subject to market and other customary conditions, $550 million in aggregate principal amount of senior notes due 2028 (the “Notes”) in an offering registered under the Securities Act of 1933, as amended (the “Note Offering”).\n The Issuers intend to use the proceeds from the Note Offering, (a) to fund the redemption of all of their outstanding $525 million aggregate principal amount of Senior Notes due 2023 (the “2023 Senior Notes”) at a redemption price of 102.5% of the principal amount redeemed plus accrued and unpaid interest to the date of redemption and (b) to pay fees and expenses related to such redemption and the Note Offering. Any remaining proceeds may be used for general corporate purposes. The Issuers have issued a conditional notice of redemption to holders of the 2023 Senior Notes. The redemption of the 2023 Senior Notes is contingent upon the pricing and closing of the Note Offering. The Notes will be fully and unconditionally guaranteed, jointly and severally, on a senior unsecured basis by CDW Corporation and by certain of CDW LLC’s current and future direct and indirect wholly owned domestic subsidiaries. Morgan Stanley & Co. LLC, J.P. Morgan Securities LLC, Barclays Capital Inc., Goldman Sachs & Co. LLC, MUFG Securities Americas Inc. and Wells Fargo Securities, LLC are acting as joint book‑running managers and BofA Securities, Inc., Capital One Securities, Inc., RBC Capital Markets, LLC and U.S. Bancorp Investments, Inc. are acting as co-managers for the Note Offering. The Note Offering is being made only by means of a prospectus supplement and an accompanying base prospectus. Copies of the preliminary prospectus supplement and the accompanying base prospectus relating to the Note Offering may be obtained from (i) Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, New York, NY 10014, by telephone (toll-free) at (866) 718-1649 or by e-mail at [email protected], (ii) J.P. Morgan Securities LLC, 383 M...