New Issue: CDW prices $130 million add-on to 8½% notes due 2019 at 104.375 to yield 7.453%

By Paul A. Harris

Portland, Ore., Feb. 2 - CDW LLC and CDW Finance Corp. priced a $130 million fungible add-on to its 8½% senior notes due April 1, 2019 (Caa1/CCC+/) at 104.375 to yield 7.453% on Thursday, according to an informed source.

Yield talk was in the 7½% area

Barclays Capital Inc. was the bookrunner.

The Vernon Hills, Ill.-based company plans to use the proceeds to refinance its existing senior notes due 2015.

CDW is a provider of technology products and services to business, government and education customers.

The original $725 million issue priced at par on March 29, 2011. A previous $450 million add-on priced at par on April 20, 2011.

Issuer:	CDW LLC and CDW Finance Corp.
Face amount:	$130 million
Proceeds:	$135,688,000
Maturity:	April 1, 2019
Security description:	Add-on to 8½% notes due April 1, 2019
Fungibility:	Fungible upon settlement
Bookrunner:	Barclays Capital Inc.
Coupon:	8½%
Price:	104.375
Yield:	7.453%
Spread:	671 bps
First call:	Callable on April 1, 2015 at 104.25
Trade date:	Feb. 2
Settlement date:	Feb. 17 with accrued interest
Ratings:	Moody's: Caa1
	Standard & Poor's: CCC+
Distribution:	Rule 144A and Regulation S with registration rights
Price talk:	7½% area
Marketing:	Quick to market
Original issue:	$725 million priced at par on March 29, 2011
Previous add-on:	$450 million add-on priced at par on April 20, 2011.
Total issue size:	$1,305,000,000

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