WESCO Intl. Announces Pricing Of $500 Mln Senior Notes

(RTTNews) - WESCO International, Inc. (WCC) said Friday that its subsidiary, WESCO Distribution, Inc., has priced its offering of $500 million aggregate principal amount of senior notes due 2021.

The offering was upsized from the previously announced $400 million amount. The company plans to use all or a portion of the net proceeds from the offering of the Notes to repay amounts outstanding under its U.S. sub-facility of its term loan facility.

As a result, the company plans to record a non-cash, pre-tax charge of about $13 million in the fourth quarter to recognize deferred financing fees and unamortized debt discount related to the portion of the term loan financing that is being repaid.