PITTSBURGH — WESCO International, Inc. (NYSE: WCC) has announced on November 26, 2013 that its wholly-owned subsidiary, WESCO Distribution, Inc., completed its previously-announced offering of $500 million aggregate principal amount of 5.375% senior notes due 2021.
Mr. Ken Parks, WESCO’s Senior Vice President and Chief Financial Officer, commented, “Our capital structure has been further strengthened through the completion of three recent transactions. In September, we amended our accounts receivable securitization facility, extending the term to 2016 and lowering pricing. Earlier in November, we amended our term loan agreement reducing pricing on the U.S. sub-facility effective December 13, 2013. Today’s completion of the senior notes offering and repayment of a portion of the U.S. term loan sub-facility locks in an attractive long term borrowing rate on a significant portion of our debt. The three transactions balance our fixed to variable debt ratio without impacting overall annual interest expense.”
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