CDW amends facility to extend maturity of $1.16 billion term loans

By Jennifer Chiou

New York, Dec. 7 - CDW Corp. entered into an amendment to its loan agreement, extending the maturity of $1.16 billion of term loans with certain lenders to July 15, 2017 from Oct. 10, 2014, according to an 8-K filing with the Securities and Exchange Commission.

The Vernon Hills, Ill.-based provider of technology products and services to business, government and education customers said that the amount assumes no exercise of the $50 million over-allotment option given to the purchasers of the company's $450 million of 8% senior secured notes due 2018. The note sale is expected to close Dec. 17.

The amendments further increase the interest rate for the term loans by 100 basis points and allow for the issue of senior secured notes.

Morgan Stanley Senior Funding, Inc. is the administrative agent.

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