CDW to launch repricing of $1.1 billion term loan B-2 on Thursday

By Sara Rosenberg

New York, Feb. 23 - CDW LLC is scheduled to hold a conference call at 11 a.m. ET on Thursday to launch a repricing of its extended $1.1 billion senior secured term loan B-2 due 2017, according to a market source.

J.P. Morgan and Morgan Stanley are the lead banks on the deal.

When the term loan B-2 was completed late last year, it was priced at Libor plus 500 basis points. Pricing can step down to Libor plus 475 bps at 4.0 times senior secured leverage and to Libor plus 450 bps at 3.5 senior secured leverage.

CDW is a Vernon Hills, Ill.-based provider of technology products and services to business, government and education customers.

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