WESCO International, Inc. WCC, a leading provider of electrical, industrial, and communications MRO and
OEM products, construction materials, and advanced supply chain management and
logistics services, announced today that WESCO International and two of its
wholly owned subsidiaries, WESCO Distribution, Inc. and WDCC Enterprises,
Inc., entered into a new term loan facility in the principal amount of US $700
million and CAD $150 million, amended and restated the existing revolving
credit facility to increase the principal amount available from $400 million
to $600 million, and amended the existing accounts receivable facility and
exercised an existing accordion feature under such facility to increase the
principal amount available from $450 million to $475 million. These financings
were entered into in conjunction with the previously announced pending
acquisition of EECOL Electric Corporation and the previously announced
redemption of WESCO International's $150 million principal amount of 7.50%
Senior Subordinated Notes Due 2017. Closing of the EECOL acquisition is
expected to occur in the fourth quarter 2012, and closing of the notes
redemption is expected in the first quarter 2013.
Market News and Data brought to you by Benzinga APIs© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in