Anixter subsidiary gets tenders for $88.56 million 10% notes so far

By Angela McDaniels

Tacoma, Wash., March 18 - Anixter International Inc. subsidiary Anixter Inc. had received tenders for $88,563,000 principal amount, or 66.42%, of its 10% senior notes due 2014 as of 5 p.m. ET on March 17, which was the early participation deadline in a tender offer that began March 4.

Holders who tendered by the early participation deadline are expected to receive payment on March 18. They will receive $1,170 per $1,000 principal amount of notes, which includes an early participation payment of $30.

The offer will expire at 5 p.m. ET on April 1.

Holders who tender after the early participation deadline but before the offer expiration will receive $1,140 per $1,000 principal amount of notes. The payment date for these notes is expected to be April 5.

Anixter also will pay accrued interest to the applicable payment date.

The offer is not conditioned on the receipt of any minimum amount of tenders.

Bank of America Merrill Lynch (888 292-0070 or collect at 646 855-3401) is the dealer manager, and Global Bondholder Services Corp. (866 952-2200) is the depositary and information agent.

Anixter is a Glenview, Ill., distributor of communication products, electrical and electronic wire and cable, fasteners and other small parts.

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