Wesco International to redeem all $199.7 million of subsidiary's 9 1/8% notes due 2008

By Jennifer Chiou

New York, Sept. 19 - Wesco International, Inc. said it intends to redeem all $199.7 million of Wesco Distribution's 9 1/8% senior subordinated notes due 2008 using the partial proceeds of new notes offerings, borrowings under its credit facility and cash on hand.

The Pittsburgh company said it plans to raise $275 million, including $150 million of senior subordinated notes due 2017 and $125 million convertible senior debentures due 2025. The convertibles have a $25 million greenshoe.

Remaining proceeds will go towards financing Wesco Distribution's previously announced acquisition of Carlton-Bates Co.

The offerings are not conditional on each other or a completed acquisition.

Wesco distributes electrical supplies and equipment.

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