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8-K Filing
WESCO International (WCC) 8-KOther Events
Filed: 29 Jul 09, 12:00am
WESCO International, Inc. WESCO Launches New Financing July 27, 2009 |
WESCO has two convertible bonds totaling $450 million: $150 million maturing in October 2010 $300 million maturing in November 2011 New Financing Opportunity Over the next four weeks, bondholders will be given the opportunity to exchange existing bonds into a new bond of up to $345 million. WESCO International, Inc. |
Why is WESCO doing this exchange? This financing is being done to further strengthen WESCO's financing position. Benefits of the new financing include: Defers near-term debt maturities Extends term for up to 20 years Increases liquidity Strengthens capital structure providing more flexibility WESCO International, Inc. |
WESCO's position in the market is strong. This financing will strengthen our balance sheet and enhance our competitive position. WESCO International, Inc. |