WESCO Distribution, Inc. Announces Offers to Purchase for Cash Any and All of Anixter Inc.'s 5.50% Senior Notes Due 2023 and 6.00% Senior Notes Due 2025 and Related Consent Solicitations

Apr 30, 2020

WESCO International, Inc. (NYSE: WCC) (“WESCO International”), announced today that its wholly-owned subsidiary, WESCO Distribution, Inc. (“WESCO”), has launched offers (each, an “Offer” and together, the “Offers”) to purchase for cash any and all of Anixter Inc.’s (“Anixter”) outstanding (i) 5.50% Senior Notes due 2023 (the “2023 Notes”), $350,000,000 aggregate principal amount, and (ii) 6.00% Senior Notes due 2025 (the “2025 Notes” and, together with the 2023 Notes, the “Notes,” each such series of the Notes, a “Series”), $250,000,000 aggregate principal amount. In connection with the Offers, WESCO is soliciting consents with respect to each Series of Notes (the “Offer Consent Solicitations”) to amend the applicable indenture establishing the 2023 Notes and 2025 Notes (each, the “Indenture,” and together, the “Indentures”). For any Notes of a Series that a Holder tenders in either Offer, the Holder will be deemed to have delivered (i) consents (“Offer Exit Consents”) to, among other things, eliminate substantially all of the restrictive covenants, to eliminate certain “Events of Default” and to eliminate any requirement to make a change of control offer, in each case in the applicable Indenture (as set forth in the Offer to Purchase and Consent Solicitation Statement (the “Offer to Purchase”)) (the “Offer Exit Proposed Amendments”) and (ii) consents (“Offer Change of Control Consents”) to the Change of Control Proposed Amendments (as defined below).

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