WESCO INTERNATIONAL INC (WCC): debt financing — WESCO issues $800M 6.375% notes due 2033 to refinance high-cost preferred stock

On March 6, 2025, 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 $800 million aggregate principal amount of 6.375% senior notes due 2033 (the “Notes”).

On February 28, 2025, Wesco Distribution amended its ABL Facility pursuant to the terms and conditions of the Seventh Amendment to Fourth Amended and Restated Credit Agreement, dated as of February 28, 2025 (the “Credit Agreement Amendment”), by and among Wesco Distribution, the other U.S. borrowers party thereto, WESCO Distribution Canada LP, the other Canadian borrowers party thereto, WESCO, the lenders party thereto and Barclays Bank PLC, as administrative agent, which amends the Fourth Amended and Restated Credit Agreement, dated as of June 22, 2020 (the “Credit Agreement”). The Credit Agreement Amendment, among other things, (i) extends the maturity date of the ABL Facility to February 28, 2030, (ii) increases the capacity to request increases in the revolving commitments under the ABL Facility from $450.0 million to $500.0 million, (iii) increases certain negative covenant baskets, (iv) removes the credit spread adjustment applicable to term SOFR (as defined therein) and daily si