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The company said it commenced cash tender offers on August 12, 2024 for any and all of its outstanding 5.500% Senior Notes due 2024 and 4.125% Senior Notes due 2025, issued by CDW LLC and CDW Finance Corporation.

8-KOther EventsFiled Period of report Summary published (UTC)

Key points

AI summary

  1. The company said it commenced cash tender offers on August 12, 2024 for any and all of its outstanding 5.500% Senior Notes due 2024 and 4.125% Senior Notes due 2025, issued by CDW LLC and CDW Finance Corporation.

  2. The company disclosed in a table that the outstanding principal amount of the 5.500% Notes due 2024 is $575,000,000 and that they mature on December 1, 2024, while the 4.125% Notes due 2025 are $600,000,000 and mature on May 1, 2025.

  3. The company said it set the consideration at $1,000 per principal amount for the 5.500% Notes at $1,000.00, and that the consideration for the 4.125% Notes will be set at August 16 at 2 p.m., as the lesser of the amount calculated by adding the Treasury Reference Security yield to the fixed spread of 50 basis points and $1,000.

  4. The company said the tender offers will expire at 5 p.m. New York City time on August 16, 2024, the Guaranteed Delivery Date is August 20, and it expects to make payment on August 22. It said there is no minimum tender amount condition, but the offers are subject to other conditions.

Summary

AI-written

Analysis scope · Filing body and confirmed press-release exhibitWe analyzed the filing body and confirmed exhibits. This is not a review of other exhibits, investor presentations or the full earnings call.

CDW Commences Cash Tender Offers for Senior Notes on August 12, 2024

The company said it commenced cash tender offers on August 12, 2024 for any and all of its outstanding 5.500% Senior Notes due 2024 and 4.125% Senior Notes due 2025, issued by CDW LLC and CDW Finance Corporation.

Source · Based on the filing body and exhibits

Outstanding Balances and Maturity Dates by Series of Notes

The company disclosed in a table that the outstanding principal amount of the 5.500% Notes due 2024 is $575,000,000 and that they mature on December 1, 2024, while the 4.125% Notes due 2025 are $600,000,000 and mature on May 1, 2025.

Source · Based on the filing body and exhibits

Consideration set by fixed $1,000.00 and 4.125% Notes cap

The company said it set the consideration at $1,000 per principal amount for the 5.500% Notes at $1,000.00, and that the consideration for the 4.125% Notes will be set at August 16 at 2 p.m., as the lesser of the amount calculated by adding the Treasury Reference Security yield to the fixed spread of 50 basis points and $1,000.

Source · Based on the filing body and exhibits

Expiration Time, Guaranteed Delivery Date, Settlement Date and Conditions

The company said the tender offers will expire at 5 p.m. New York City time on August 16, 2024, the Guaranteed Delivery Date is August 20, and it expects to make payment on August 22. It said there is no minimum tender amount condition, but the offers are subject to other conditions.

Source · Based on the filing body and exhibits

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.

View the original filing on SEC EDGAR ↗
Source: SEC EDGAR (U.S. Securities and Exchange Commission). Item captions are the SEC's. The summary is for reference only and is not investment advice.