debt
confidence high
sentiment neutral
materiality 0.60
WESCO upsizes and prices $1.75B senior notes offering; to redeem 2025 notes
WESCO INTERNATIONAL INC
- Priced $900M 6.375% notes due 2029 and $850M 6.625% notes due 2032.
- Upsized from initial $750M each for total $1.5B to $1.75B.
- Net proceeds ~$1.7284B to redeem all outstanding 7.125% notes due 2025.
- Temporary use to repay receivables facility and ABL, then redraw for redemption.
- Notes unsecured, unsubordinated; guaranteed by WESCO and Anixter.