BREAKING: CDW ($CDW) signs a new 5-year $2.8845B senior unsecured credit facility — $634.5M term (funded)…
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BREAKING: CDW ($CDW) signs a new 5-year $2.8845B senior unsecured credit facility — $634.5M term (funded) + $2.25B revolver (LC $175M, swingline $100M). Facility replaces prior loans. 🚨🏦 #CDW #CreditFacility #Liquidity #FinTwit
ALERT: What this means — immediate refinancing done, big liquidity cushion and reduced near-term refinancing risk; capacity to upsize by $1B and support M&A (4.00x leverage covenant, can step to 4.5x after a qualified acquisition). $CDW 💼⚠️ #Liquidity #M&A #CDW
Confirmed: Pricing & terms — option: SOFR (0.00% floor) + 1.125% or alt base rate +0.125%; revolver multi-currency; term loan has no scheduled amortization (bullet at maturity). $CDW 🧾📉 #CorporateDebt #CDW #FinTwit
Additional details: Arranged by JPMorgan & Wells Fargo; UK borrower sublimit $350M (can add $100M); revolver term 5 yrs with up to two 1‑yr extensions; proceeds for working capital & refinancing — no equity dilution noted. $CDW 🔒🏦 #CreditFacility #Markets #CDW