WESCO International Expands Senior Notes Offering to $800 Million

WESCO International Inc. announced on February 25, 2025, that its wholly owned subsidiary, WESCO Distribution, Inc., has commenced and subsequently priced a private offering for eligible purchasers of 6.375% senior notes due 2033 with an aggregate principal amount of $800 million. The offering, which was increased from an earlier target of $600 million, is part of an effort to optimize the company’s capital structure.

Under the terms of the transaction, the notes will be issued at 100.000% of their aggregate principal amount. Settlement of the issuance is scheduled to occur on March 6, 2025, subject to customary closing conditions. Wesco estimates that the net proceeds from the offering will be approximately $789.5 million after accounting for the initial purchasers’ discount and estimated offering expenses.

The company intends to use the net proceeds from the offering to address several financial objectives. These include redeeming all outstanding 10.625% Series A Fixed-Rate Reset Cumulative Perpetual Preferred Stock and the related depositary shares on June 22, 2025, as well as repaying a portion of the amounts outstanding under its asset-based revolving credit facility and its accounts receivable securitization facility.

The notes will be unsecured and unsubordinated obligations of WESCO Distribution and will rank equally with the issuer’s other existing and future unsecured obligations. In addition, the notes are guaranteed on an unsecured, unsubordinated basis by WESCO International Inc. and its wholly owned subsidiary, Anixter Inc. The offering is being made solely to qualified institutional buyers under Rule 144A of the Securities Act of 1933 and to non-U.S. persons in transactions outside the United States under Regulation S of the Securities Act.

This announcement was made via an SEC Form 8-K filing and is accompanied by press releases detailing the launch and pricing of the offering, which have been incorporated into the filing as exhibits. No offer to sell or solicitation of an offer to buy the notes, or any other securities, is being made in any jurisdiction where such offer, sale, or solicitation would be unlawful.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read WESCO International’s 8K filing here.

WESCO International Company Profile

WESCO International, Inc provides business-to-business distribution, logistics services, and supply chain solutions in the United States, Canada, and internationally. It operates through three segments: Electrical & Electronic Solutions (EES), Communications & Security Solutions (CSS), and Utility and Broadband Solutions (UBS).