Wesco Announces Pricing of Private Offering of Senior Notes Due 2033

Core Viewpoint - Wesco International, Inc. announced the pricing of an $800 million offering of 6.375% senior notes due 2033, increasing from a previously announced $600 million [1][2] Group 1: Offering Details - The offering will result in net proceeds of approximately $789.5 million after deducting discounts and estimated expenses [2] - The notes will be issued at a price of 100% of the aggregate principal amount and are scheduled to settle on March 6, 2025 [1][2] - The notes will be unsecured and rank equally with other existing and future unsecured obligations of Wesco Distribution [3] Group 2: Use of Proceeds - Wesco intends to use the net proceeds to redeem all outstanding 10.625% Series A Fixed-Rate Reset Cumulative Perpetual Preferred Stock and related depositary shares on June 22, 2025 [2] - Prior to the redemption, proceeds will also be used to repay a portion of outstanding borrowings under its accounts receivable securitization facility and asset-based revolving credit facility [2] Group 3: Company Overview - Wesco International is a leading provider of business-to-business distribution, logistics services, and supply chain solutions, with approximately $22 billion in annual sales in 2024 [6] - The company operates over 700 sites in approximately 50 countries, providing a local presence and global network for customers [6]