PITTSBURGH, Aug. 11, 2016 /PRNewswire/ -- WESCO
International, Inc. (NYSE: WCC) ("WESCO"), a leading provider of
electrical, industrial, and communications MRO and OEM products,
construction materials, and advanced supply chain management and
logistics services, has given notice to holders of its 6.0%
Convertible Senior Debentures due 2029 (CUSIP No. 95082P AH8) (the
"Debentures") that it will redeem all of the outstanding Debentures
on September 15, 2016 (the
"Redemption Date") at a redemption price equal to 100% of the
principal amount of the Debentures, plus accrued and unpaid
interest to, but excluding, the Redemption Date, for a total of
$1,030.00 per $1,000 principal amount of Debentures. The
aggregate principal amount of the Debentures currently outstanding
is $344,804,000.
Upon compliance with the terms and conditions of the Debentures
and the indenture governing the Debentures, the Debentures may be
surrendered for conversion at any time prior to 5:00 p.m., New York
City time, on September 14,
2016. The conversion rate in effect as of August 11, 2016 is 34.6433 shares of WESCO's
common stock per $1,000 principal
amount of Debentures.
WESCO's notice to holders specifying the terms, conditions and
procedures for the redemption and/or conversion is available
through The Depository Trust Company and the Trustee, The Bank of
New York Mellon. The Bank of New York Mellon, in its capacity
as either paying agent for the redemption or conversion agent, can
be contacted at The Bank of New York Mellon, Corporate Trust
Operations - Redemptions, 111 Sanders Creek Parkway, East Syracuse, NY 13057.
This press release does not constitute a notice of redemption of
the Debentures. The redemption of the Debentures is made
solely pursuant to WESCO's notice of redemption dated August 11, 2016 and delivered to the registered
holders of the Debentures by the trustee with respect to the
Debentures.
WESCO International, Inc. (NYSE: WCC), a publicly traded
Fortune 500 holding company headquartered in Pittsburgh, Pennsylvania, is a leading
provider of electrical, industrial, and communications maintenance,
repair and operating (MRO) and original equipment manufacturers
(OEM) products, construction materials, and advanced supply chain
management and logistic services. 2015 annual sales were
approximately $7.5 billion. The
company employs approximately 9,300 people, maintains relationships
with over 25,000 suppliers, and serves over 80,000 active customers
worldwide. Customers include commercial and industrial businesses,
contractors, government agencies, institutions, telecommunications
providers, and utilities. WESCO operates nine fully automated
distribution centers and approximately 500 full-service branches in
North America and international
markets, providing a local presence for customers and a global
network to serve multi-location businesses and multi-national
corporations.
The matters discussed herein may contain forward-looking
statements that are subject to certain risks and uncertainties that
could cause actual results to differ materially from expectations.
Certain of these risks are set forth in the Company's Annual Report
on Form 10-K for the fiscal year ended December 31, 2015, as well as the Company's other
reports filed with the Securities and Exchange Commission.
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SOURCE WESCO International, Inc.