Anixter retires $21.2 million 3.25% convertibles in first quarter

By Toni Weeks

San Diego, April 26 - Anixter International Inc. said it retired $21.2 million of 3.25% zero-coupon convertible notes during the quarter that ended April 1, according to its first-quarter earnings report.

"Our strong balance sheet allows us the flexibility to further reduce the outstanding amount of the 3.25% zero-coupon convertible notes utilizing available capacity in our bank revolving lines of credit while enabling us to pursue strategic acquisition opportunities when they arise," Dennis Letham, Anixter's executive vice president of finance, said in a press release.

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

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