Additional borrowing capacity

[Table of Contents](#i7c08528f82aa4260b71dd1d8bcc2d1c3_7)CDW CORPORATION AND SUBSIDIARIESNOTES TO CONSOLIDATED FINANCIAL STATEMENTS(dollars in millions, except per share data, unless otherwise noted)7.    Debt

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|  |  |  |  | As of September 30, 2022 |  | As of December 31, 2021 |
|  |  | Maturity Date |  | Interest Rate |  | Amount |  | Interest Rate |  | Amount |
| Credit Facility |  |  |  |  |  |  |  |  |  |  |
| Senior unsecured revolving loan facility |  | December 2026 |  | Variable |  | $ | 101.6  |  |  | Variable |  | $ | 316.4  |  |
|  |  |  |  |  |  |  |  |  |  |  |
| Term Loan |  |  |  |  |  |  |  |  |  |  |
| Senior unsecured term loan facility |  | December 2026 |  | Variable |  | 984.5  |  |  | Variable |  | 1,420.0  |  |
|  |  |  |  |  |  |  |  |  |  |  |
| Unsecured Senior Notes |  |  |  |  |  |  |  |  |  |  |
| Senior notes due 2024 |  | December 2024 |  | 5.500  | % |  | 575.0  |  |  | 5.500  | % |  | 575.0  |  |
| Senior notes due 2025 |  | May 2025 |  | 4.125  | % |  | 600.0  |  |  | 4.125  | % |  | 600.0  |  |
| Senior notes due 2028 |  | April 2028 |  | 4.250  | % |  | 600.0  |  |  | 4.250  | % |  | 600.0  |  |
| Senior notes due 2029 |  | February 2029 |  | 3.250  | % |  | 700.0  |  |  | 3.250  | % |  | 700.0  |  |
| Senior notes due 2026 |  | December 2026 |  | 2.670  | % |  | 1,000.0  |  |  | 2.670  | % |  | 1,000.0  |  |
| Senior notes due 2028 |  | December 2028 |  | 3.276  | % |  | 500.0  |  |  | 3.276  | % |  | 500.0  |  |
| Senior notes due 2031 |  | December 2031 |  | 3.569  | % |  | 1,000.0  |  |  | 3.569  | % |  | 1,000.0  |  |
| Total unsecured senior notes |  |  |  |  |  | 4,975.0  |  |  |  |  | 4,975.0  |  |
|  |  |  |  |  |  |  |  |  |  |  |
| Receivable financing liability |  |  |  |  |  | 124.3  |  |  |  |  | 179.5  |  |
| Other long-term obligations |  |  |  |  |  | 12.2  |  |  |  |  | 13.6  |  |
| Unamortized discounts and deferred financing fees |  |  |  |  |  | (39.8) |  |  |  |  | (46.0) |  |
| Current maturities of long-term debt |  |  |  |  |  | (57.8) |  |  |  |  | (102.7) |  |
| Total long-term debt |  |  |  |  |  | $ | 6,100.0  |  |  |  |  | $ | 6,755.8  |  |

As of September 30, 2022, the Company is in compliance with the covenants under its credit agreements and indentures.Credit FacilityThe Company has a variable rate senior unsecured revolving loan facility (the “Revolving Loan Facility”) from which it may draw tranches denominated in US dollars, British pounds or Euros. The interest rate is based on LIBOR plus a margin or an alternate base rate plus a margin, where the margin is based on the Company’s senior unsecured rating. The Revolving Loan Facility is used by the Company for borrowings, issuances of letters of credit and floorplan financing. As of September 30, 2022, the Company could have borrowed up to an additional $1.1 billion under the Revolving Loan Facility. As of September 30, 2022, the Revolving Loan Facility had less than $1 million of undrawn letters of credit and $429 million reserved for the floorplan sub-facility.Term LoanThe senior unsecured term loan facility (the “Term Loan Facility”) has a variable interest rate, which has effectively been capped through the use of interest rate caps. The interest rate is based on LIBOR plus a margin, where the margin is determined by the Company’s senior unsecured credit rating. During the three months ended September 30, 2022, the Company prepaid $400 million on the Term Loan Facility without penalty. In total, the Company paid $436 million during the nine months ended September 30, 2022. As a result of the prepayment, no additional mandatory payments are required on the remaining principal amount until its maturity date. Unsecured Senior NotesThe unsecured senior notes have a fixed interest rate, which is paid semi-annually.13
