China Construction Bank contributes to $1.42 billion USD syndicated term loan to CDW for general corporate and refinancing purposes in 2021 (Linked to Record ID#106086)

Project narrative

On December 1, 2021, financial close was reached on a deal in which a syndicate of 30 banks — including ICBC and China Construction Bank — entered into a $1.42 billion USD syndicated loan agreement with CDW LLC, an Illinois-based technology solutions provider specializing in hardware, software, and IT services. The loan was guaranteed by CDW Corporation, CDW Direct, LLC, CDW Government LLC, CDW Logistics, LLC, CDW Technologies LLC, and Amplified IT LLC. The maturity of the loan is five years, and the interest rate is LIBOR plus an applicable margin. 
The proceeds were used by CDW LLC for general corporate purposes, which includes refinancing existing debt and supporting ongoing business operations. 
While ICBC (Record ID#106086) and China Construction Bank (Record ID#106087) contributed undisclosed amounts to this loan, the following lenders also participated: JPMorgan Chase Bank, N.A.; Bank of America N.A.; Morgan Stanley Bank, N.A.; Wells Fargo Bank, N.A.; Capital One, National Association; Mizuho Bank, Ltd.; MUFG Bank, Ltd.; Goldman Sachs Bank USA; The Bank of Nova Scotia; U.S. Bank National Association; BNP Paribas; Citizens Bank, N.A.; PNC Bank, National Association; Regions Bank; Sumitomo Mitsui Banking Corporation; The Huntington National Bank; The Toronto-Dominion Bank; BMO Harris Bank N.A.; The Northern Trust Company; Comerica Bank; Hua Nan Commercial Bank Ltd.; Bank of Taiwan; Chang Hwa Commercial Bank, Ltd.; First Commercial Bank, Ltd.; Mega International Commercial Bank Co., Ltd.; Taiwan Business Bank; Taiwan Cooperative Bank; and Trustmark National Bank. On June 7, 2023, the lenders and the borrower entered into an amendment in which they replaced LIBOR with SOFR where there will be an adjustment in addition to the margin for the interest.