NEW YORK ( The Deal) - Two PE-backed companies, HD Supply Holdings Inc. ( HDS) and CDW Corp. ( CDW), priced initial public offerings and began trading Thursday on the Nasdaq, as markets edged back toward the levels achieved before Federal Reserve Chairman Ben Bernanke gave his the "state of bond buybacks" press conference June 19. HD Supply, which distributes building materials to professional contractors, priced its IPO of nearly 53.2 million shares at $18, raising about $957 million, while CDW priced its IPO of nearly 23.3 million shares at $17, raising about $395 million. Atlanta-based HD Supply, trading under the ticker symbol HDS, closed up 3.7%, to $18.66; CDW, trading under the ticker symbol CDW, closed up 8%, to $18.37. HD Supply's IPO priced at the bottom of a range that had been cut from its previously expected range of $22 to $25 per share. In that IPO, private equity backers Bain Capital LLC, Carlyle Group and Clayton, Dubilier & Rice LLC retained the 36.5 million shares each owns in HD Supply. At the IPO price of $18, each of the firms' 19.9% stake in the company is valued at $657 million. HD Supply said it received proceeds of $917 million. HD Supply was sold to a consortium of private equity firms in a 2007 deal that valued the company at $8.5 billion. But the deal left the company with a substantial debt load -- about $6.6 billion, according to filings -- a factor that could have made investors wary and led to the price cut on the IPO. The company plans to use proceeds from the offering to retire about $633 million of 10.5% senior subordinated notes due 2021 and $185 million of 11.5% senior notes due 2020. If the underwriters exercise their option to purchase about 8 million additional shares, HD Supply may have enough proceeds to pay off the entire $950 million of its 10.5% senior subordinated notes due 2021. HD Supply posted adjusted EBITDA of $683 million on net sales of $8 billion in the fiscal year ended Feb. 3, up from adjusted EBITDA of $508 million on net sales of $7 billion in fiscal year 2012.