debt
confidence high
sentiment neutral
materiality 0.55
CDW commences tender offers to buy back up to $1.175B of senior notes due 2024 and 2025
CDW Corp
- Offers to purchase any and all $575M of 5.500% Notes due 2024 and $600M of 4.125% Notes due 2025.
- 2024 Notes consideration fixed at $1,000 per $1,000 principal plus accrued interest.
- 2025 Notes consideration to be set on August 16, 2024 based on fixed spread plus Treasury yield, capped at par.
- Offers expire at 5:00 PM ET on August 16, 2024; settlement expected August 22, 2024.
- No minimum tender condition; BofA Securities and J.P. Morgan acting as dealer managers.