Anixter holders convert remaining 3.25% convertibles in latest quarter

By Susanna Moon

Chicago, Oct. 25 - Anixter International Inc. said holders converted the remaining $11.6 million in accreted value of its 3.25% zero-coupon convertible notes in the most recent quarter.

The company's "financial leverage of 45.7% at the end of the current quarter is comfortably in our longstanding target range of 45% to 50%," Ted Dosch, the company's executive vice president-finance, said in the earning release for the quarter ended Sept. 30.

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

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