Wesco Prices $650M 5.25% 2031 Notes, Upsizes $850M 5.50% 2034 Notes
Wesco Distribution priced $650 million of 5.250% senior notes due 2031 and upsized $850 million of 5.500% senior notes due 2034 to full price, boosting the 2034 tranche from $650 million. Net proceeds of about $1.48 billion will redeem all 7.250% notes due 2028 and repay borrowings under its ABL and receivables facilities.
1. Pricing Details
Wesco Distribution, a subsidiary of Wesco International, priced $650 million of 5.250% senior notes due 2031 at par and upsized its 5.500% senior notes due 2034 to $850 million from $650 million, also at par.
2. Use of Proceeds
Wesco estimates net proceeds of approximately $1.48 billion, which will first repay borrowings under its accounts receivable securitization and asset-based revolving credit facilities and then redeem all outstanding 7.250% senior notes due 2028 on or after June 15, 2026.
3. Terms and Guarantees
The unsecured, unsubordinated notes will rank equally with existing and future obligations of Wesco Distribution and will be guaranteed on an unsecured, unsubordinated basis by Wesco International and its subsidiary Anixter Inc., sold only to qualified institutional buyers under Rule 144A and non-U.S. persons under Regulation S.
4. Settlement and Impact
The issuance and sale of both tranches is scheduled to settle on February 27, 2026, subject to customary closing conditions, extending Wesco’s debt maturities and optimizing its capital structure.