CDW Corp Form 8-K Summary
Business Context and Reporting Period
This Current Report on Form 8-K was filed by CDW Corporation on September 12, 2019. The filing reports the entry into a material definitive agreement regarding a new debt offering.
Key Financial Metrics
The filing details a specific debt issuance rather than operational financial results:
- Debt Issuance: $600,000,000 aggregate principal amount of 4.250% senior notes due 2028.
- Issuers: CDW LLC and CDW Finance Corporation (Co-Issuers).
- Underwriters: Morgan Stanley & Co. LLC as representative.
- Expected Closing Date: September 26, 2019.
- Revenue, Profit, Cash Flow, Margins, and Liquidity: The filing text does not provide a clear value for these operational metrics.
Material Changes
The primary material change is the execution of an underwriting agreement to raise $600 million in long-term debt. This represents a significant addition to the company's capital structure pending the closing of the transaction.
Guidance, Outlook, and Risks
The filing does not contain updated financial guidance, management commentary on future outlook, or specific risk factors beyond standard legal disclaimers. The sale of the notes is subject to customary closing conditions. The document explicitly states it is not an offer to sell securities in jurisdictions where such an offer would be unlawful.
Investor Verification Checklist
- Verify the final closing of the $600 million note issuance on or around September 26, 2019.
- Review the full Underwriting Agreement (Exhibit 1.1) for specific covenants and redemption terms.
- Confirm the use of proceeds for the new debt in subsequent financial reports.
- Check for any changes in the company's overall debt-to-equity ratio following the closing.