debt
confidence medium
sentiment neutral
materiality 0.45
CDW subsidiary commits to $3.02B new credit facilities to refinance existing debt
CDW Corp
- CDW LLC entered commitment letter with JPMorgan for $1.6B revolver and $1.42B term loan.
- New unsecured credit facilities have five-year maturity and same subsidiary guarantees.
- Proceeds to repay all outstanding debt under existing senior credit facilities.
- Refinancing subject to customary conditions; no assurance it will close on described terms.