WESCO Closes Financing Transactions
WESCO International, Inc. (NYSE: 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.
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