CDW Corp Form 8-K Summary
Business Context and Reporting Period
This Current Report on Form 8-K was filed by CDW Corporation on December 23, 2013. The filing reports a specific corporate action regarding the redemption of outstanding debt instruments.
Key Financial Metrics and Debt Activity
- Debt Instrument: 12.535% Senior Subordinated Exchange Notes due 2017.
- Redemption Amount: $30.0 million aggregate principal amount.
- Outstanding Balance: $92.5 million aggregate principal amount prior to redemption.
- Redemption Price: 104.178% of principal ($1,041.78 per $1,000 principal).
- Redemption Date: January 22, 2014.
- Additional Costs: Accrued and unpaid interest to, but not including, the redemption date.
Material Changes
The filing discloses a partial redemption of debt, reducing the total principal amount of the 2017 Notes. The filing text does not provide comparative financial metrics (revenue, profit, cash flow, or margins) for the current period versus the prior period, as this report focuses solely on the debt redemption event.
Guidance, Outlook, and Risks
The filing does not contain updated financial guidance, management outlook, or new risk factors. The redemption is executed in accordance with the provisions of the indenture governing the Notes. No unusual items or contingencies are disclosed beyond the scheduled debt repayment.
Key Facts for Investor Verification
- Verify the cash outflow impact of the redemption price (104.178%) plus accrued interest on the company's liquidity position.
- Confirm the remaining outstanding principal of the 2017 Notes after the $30.0 million reduction.
- Review the attached press release (Exhibit 99.1) for any additional context on the rationale for the redemption.