Press release
CDW Corporation Announces Upsizing and Pricing of Registered Offering of $700 Million of Senior Notes due 2029
LINCOLNSHIRE, Ill., Aug. 10, 2020 (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., Aug. 10, 2020 (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”) have priced an offering of $700 million in aggregate principal amount of 3.25% senior notes due 2029 (the “Notes”), representing an increase of $70 million in aggregate principal amount from the initially proposed offering size, in an offering registered under the Securities Act of 1933, as amended (the “Note Offering”). The Notes were priced at 100 % of par. The sale of the Notes is expected to be completed on August 13, 2020, subject to customary closing conditions.\n The Issuers intend to use the proceeds from the Note Offering (a) to fund the redemption of all of their outstanding $600 million aggregate principal amount of Senior Notes due 2025 (the “2025 Senior Notes”) at a redemption price of 103.75% 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. The remaining proceeds will be used for general corporate purposes. The Issuers have issued a conditional notice of redemption to holders of the 2025 Senior Notes. The redemption of the 2025 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, Barclays Capital Inc., Wells Fargo Securities, LLC, J.P. Morgan Securities LLC, BofA Securities, Inc., Capital One Securities, Inc., MUFG Securities Americas Inc., Goldman Sachs & Co. LLC and RBC Capital Markets, LLC are acting as joint book‑running managers and U.S. Bancorp Investments, Inc. and Siebert Williams Shank & Co., LLC 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 ...