WESCO INTERNATIONAL INC (WCC): debt financing — WESCO issues $900M 6.375% 2029 and $850M 6.625% 2032 senior notes

WESCO INTERNATIONAL INC

Net proceeds of $1.7284B; used to redeem all 7.125% notes due 2025 and for general corporate purposes.
Receivables facility amended: purchase limit reduced to $1.55B (from $1.625B), termination extended to March 1, 2027.
Notes are unsecured, unsubordinated, guaranteed by WESCO and Anixter Inc.
Issuer may redeem notes early with make-whole premium; certain change-of-control triggers repurchase at 101%.
5-Year notes mature March 15, 2029; 8-Year notes mature March 15, 2032; interest payable semi-annually.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.98

WESCO INTERNATIONAL INC incurred senior notes of $900 million aggregate principal amount of 6.375% senior notes due 2029 and $850 million aggregate principal amount of 6 with eligible purchasers via initial purchasers; U.S. Bank Trust Company, National Association as trustee at 6.375% per annum for the 5-Year Notes and 6.625% per annum for the 8-Year Notes maturing March 15, 2029 for the 5-Year Notes and March 15, 2032 for the 8-Year Notes.

Instrument: senior notes
Principal: $900 million aggregate principal amount of 6.375% senior notes due 2029 and $850 million aggregate principal amount of 6
Counterparty: eligible purchasers via initial purchasers; U.S. Bank Trust Company, National Association as trustee
Rate: 6.375% per annum for the 5-Year Notes and 6.625% per annum for the 8-Year Notes
Maturity: March 15, 2029 for the 5-Year Notes and March 15, 2032 for the 8-Year Notes
Event: incurrence

Exact text from the filing

On March 7, 2024, WESCO Distribution, Inc. (the “Issuer” or “Wesco Distribution”), a wholly owned subsidiary of WESCO International, Inc. (the “Company” or “WESCO”), completed its previously announced offering (the “Offering”) to eligible purchasers of $900 million aggregate principal amount of 6.375% senior notes due 2029 (the “5-Year Notes”) and $850 million aggregate principal amount of 6.625% senior notes due 2032 (the “8-Year Notes” and, together with the 5-Year Notes, the “Notes”).

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.98

WESCO INTERNATIONAL INC entered into Indenture for 6.375% Senior Notes due 2029 and 6.625% Senior Notes due 2032 with U.S. Bank Trust Company, National Association valued at $900 million 6.375% notes due 2029 and $850 million 6.625% notes due 2032 (effective 2024-03-07).

Action: entry
Agreement: notes offering
Counterparty: U.S. Bank Trust Company, National Association
Value: $900 million 6.375% notes due 2029 and $850 million 6.625% notes due 2032
Effective: 2024-03-07

Exact text from the filing

On March 7, 2024, WESCO Distribution, Inc. (the “Issuer” or “Wesco Distribution”), a wholly owned subsidiary of WESCO International, Inc. (the “Company” or “WESCO”), completed its previously announced offering (the “Offering”) to eligible purchasers of $900 million aggregate principal amount of 6.375% senior notes due 2029 (the “5-Year Notes”) and $850 million aggregate principal amount of 6.625% senior notes due 2032 (the “8-Year Notes” and, together with the 5-Year Notes, the “Notes”).

View on SEC.gov

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WESCO INTERNATIONAL INC filing history →

Source: SEC EDGAR

accession 0001193125-24-063782

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