debt
confidence high
sentiment neutral
materiality 0.55
WESCO issues $1.5B of 5.250%/5.500% senior notes due 2031/2034 to refinance debt
WESCO INTERNATIONAL INC
- $650M of 5.250% notes due 2031 and $850M of 5.500% notes due 2034 issued at 100% of par.
- Net proceeds of ~$1.48B to redeem outstanding 7.250% notes due 2028 and repay ABL facility.
- Notes are unsecured, guaranteed by WESCO International and Anixter Inc., mature April 15, 2031/2034.
- Interest payable semi-annually; make-whole call provisions apply before certain dates.
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