CDW plans to sell $525 million eight-year notes in Thursday drive-by

By Paul A. Harris

Portland, Ore., Feb. 26 – CDW plans to price a $525 million offering of eight-year senior notes (expected ratings B3/B+) on Thursday following a late-morning conference call with investors, according to a market source.

J.P. Morgan Securities LLC, Barclays, Morgan Stanley & Co. LLC, Deutsche Bank Securities Inc., Goldman Sachs & Co. and BofA Merrill Lynch are the joint bookrunners for the public offering.

Wells Fargo Securities Inc., U.S. Bancorp Investments Inc. and MUFG are the co-managers.

The notes become callable after three years at par plus 75% of the coupon.

The issuing entities will be CDW LLC and CDW Finance Corp., wholly owned subsidiaries of the Vernon Hills, Ill.-based provider of technology products and services.

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