Wesco calls remaining $92.32 million 2.625% convertible debentures

By Marisa Wong

Madison, Wis., Nov. 19 - Wesco International, Inc. said it will redeem all $92,324,000 of its outstanding 2.625% convertible senior debentures due 2025 on Dec. 23.

The convertible debentures will be redeemed at par plus accrued interest to but excluding the redemption date for a total of $1,004.9583 per $1,000 principal amount.

The debentures may be surrendered for conversion at any time before 5 p.m. ET on Dec. 22. The conversion rate in effect as of Friday is 23.8872 common shares per $1,000 principal amount of debentures.

The company intends to use available funds to redeem any and all unconverted debentures.

Wesco is a Pittsburgh-based distributor of electrical construction products and supplies.

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