CDW Corporation 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 report discloses a material event regarding the company's debt structure involving its wholly owned subsidiaries, CDW LLC and CDW Finance Corporation.
Key Financial Metrics
The filing does not provide specific values for revenue, profit, cash flow, margins, or overall liquidity. The primary financial metric disclosed is the existence of 5.0% Senior Notes due 2023 held by the subsidiaries.
Material Changes
On September 12, 2019, the Issuers delivered a conditional notice of redemption to holders of the 5.0% Senior Notes due 2023. The company intends to redeem the entire outstanding aggregate principal amount of these Notes. This action is contingent upon the successful completion of a new debt financing transaction and the receipt of sufficient net proceeds to cover the redemption price.
Outlook, Risks, and Contingencies
- Contingency: The redemption is conditional and may be rescinded or amended if the required debt financing is not completed or if proceeds are insufficient.
- Legal Status: This Form 8-K does not constitute a formal notice of redemption; the official notice is governed by the indenture.
- Disclosure Limitation: Information under Item 7.01 is furnished and not deemed "filed" for purposes of Section 18 of the Exchange Act, limiting liability exposure.
Investor Verification Checklist
- Verify the successful completion of the new debt financing transaction required to fund the redemption.
- Confirm the final terms and interest rate of the new debt instrument replacing the 5.0% Senior Notes.
- Monitor for any rescission or amendment of the conditional notice of redemption.
- Review the official conditional notice of redemption delivered pursuant to the indenture for specific redemption dates and prices.