International law firm Milbank, Tweed, Hadley & McCloy, LLP represented the lead arrangers on two recent senior secured financing transactions for CDW LLC (“CDW”).
In April, Milbank advised Barclays Bank PLC, Morgan Stanley Senior Funding, Inc., J.P. Morgan Securities LLC, Goldman Sachs Lending Partners LLC, Deutsche Bank Securities Inc. and Merrill Lynch, Pierce, Fenner & Smith Incorporated as joint lead arrangers in connection with a $1.35 billion senior secured term loan facility for CDW. In July, Milbank advised J.P. Morgan Securities LLC and Barclays Bank PLC as joint lead arrangers of a related $190 million incremental term loan facility. Together, the two financings raised $1.54 billion of 7-year term loans for CDW, the primary purpose of which was to refinance other indebtedness of the company. Milbank also represented Barclays Bank PLC as administrative agent and collateral agent for the credit facilities.
CDW LLC is a Fortune 500 company and a leading provider of integrated information technology solutions in the US and Canada. The company offers a variety of IT solutions ranging from discrete hardware and software products to integrated services, such as mobility, security, data center optimization, cloud computing, virtualization and collaboration, to a client base that includes more than 250,000 small, medium and large business, government, education and healthcare customers. CDW’s parent company, CDW Corporation, completed an initial public offering on June 27, 2013.
The Milbank Global Leveraged Finance team, led by partner Michael Bellucci, also included associates Todd Koretzky and Laura Larsen. Additional counsel was provided by Tax partner Bruce Kayle and associate Joseph Reich, Real Estate associates Lisa Brabant and Melissa Galicia, Employee Benefits associate Robin Heszkel and Intellectual Property associate Hannah Cannom.
