debt
confidence high
sentiment positive
materiality 0.75
WESCO Distribution prices $800M 6.375% senior notes due 2033 to redeem 10.625% preferred stock
WESCO INTERNATIONAL INC
- WESCO Distribution, a wholly owned subsidiary, priced $800M of 6.375% senior notes due 2033; up from $600M initially announced.
- Net proceeds of ~$789.5M will redeem all 10.625% Series A perpetual preferred stock on June 22, 2025, and repay ABL facility.
- Settlement expected March 6, 2025. Notes are unsecured, unsubordinated obligations guaranteed by WESCO and Anixter Inc.
- Notes offered privately under Rule 144A/Reg S; not registered under Securities Act.