Reported Earlier, Wesco Prices Private Offering Of Senior Notes Due 2029 And Senior Notes Due 2032
Portfolio Pulse from Benzinga Newsdesk
WESCO Distribution, Inc. has priced its offering of $900 million in 6.375% senior notes due 2029 and $850 million in 6.625% senior notes due 2032. The amounts for both the 5-Year and 8-Year Notes were increased from the initially announced $750 million. Both sets of notes will be issued at 100% of their aggregate principal amount, with the sale scheduled to settle on March 7, 2024, subject to customary closing conditions.
February 27, 2024 | 7:45 am
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WESCO Distribution, Inc. has successfully priced a significant offering of senior notes, increasing the amounts from initial announcements. This move could indicate strong investor confidence and a solid financial strategy for capital raising.
The increase in the amount of both the 5-Year and 8-Year Notes from the initially announced figures suggests a strong demand from investors, which could be seen as a positive signal about the company's financial health and investor confidence. This could potentially lead to a positive short-term impact on WCC's stock price as it reflects the company's ability to raise capital efficiently.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 90