debt
confidence high
sentiment neutral
materiality 0.50
CDW issues $1.5B senior notes in three tranches with rates 5.700%-6.350%
CDW Corp
- $600M of 5.700% notes due 2029 at 99.908%; $500M of 6.100% notes due 2032 at 100%; $400M of 6.350% notes due 2033 at 99.805%.
- Notes mature Sept 21, 2029; Jan 15, 2032; and Sept 21, 2033; interest semi-annual starting March 21 or Jan 15, 2027.
- Fully and unconditionally guaranteed by CDW Corporation on an unsecured senior basis; no subsidiary guarantees.
- Redeemable before par call dates at Treasury plus 15-25 bps; change-of-control repurchase at 101% of principal.