FORM 8-K
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(D) OF THE
SECURITIES AND EXCHANGE ACT OF 1934
Date
of Report (Date of earliest event reported): August 27, 2009
WESCO International, Inc.
(Exact name of registrant as specified in its charter)
Commission file number 001-14989
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Delaware
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25-1723345 |
(State or other jurisdiction of
incorporation or organization)
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(IRS Employer Identification No.) |
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225 West Station Square Drive |
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Suite 700 |
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Pittsburgh, Pennsylvania 15219
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(412) 454-2200 |
(Address of principal executive offices)
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(Registrants telephone number, including area code) |
N/A
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the
filing obligation of the registrant under any of the following provisions:
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Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
240.14d-2(b)) |
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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
240.13e-4(c)) |
Item 8.01. Other Events.
On
August 27, 2009, WESCO International, Inc. (the
Company) announced the final
results and settlement of its exchange offer for its 1.75% Convertible Senior Debentures due 2026 and
its 2.625% Convertible Senior Debentures due 2025. A copy of the press release issued by the
Company on August 27, 2009 is filed as Exhibit 99.1 to this Current Report and is incorporated
herein by reference.
Item 9.01. Financial Statements and Exhibits
(d) Exhibits
99.1
Press Release dated August 27, 2009
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly
caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
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WESCO INTERNATIONAL, INC.
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By: |
/s/ Richard P. Heyse
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Richard P. Heyse |
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Vice President and Chief Finance Officer |
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Dated:
August 27, 2009
EX-99.1
Exhibit 99.1
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NEWS
RELEASE
WESCO International, Inc. / Suite 700, 225 West Station Square Drive / Pittsburgh, PA 15219
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WESCO International, Inc. Announces
Final Results and Settlement
of Its Exchange Offer
Contact: Daniel A. Brailer, Vice President, Treasurer
and Investor Relations
WESCO International, Inc. (412) 454-2271, Fax: (412) 454-2477
PITTSBURGH, August 27, 2009 /PRNewswire-FirstCall/ WESCO International, Inc. (NYSE: WCC), a
leading provider of electrical MRO products, construction materials and advanced integrated supply
procurement outsourcing services, announced today the final results and settlement of its exchange
offer (the Exchange Offer) for its outstanding 1.75% Convertible Senior Debentures due 2026 (the
2026 Debentures) and its 2.625% Convertible Senior Debentures due 2025 (the 2025 Debentures).
The Exchange Offer expired at midnight, New York City time, on August 21, 2009. The Bank of New
York Mellon, the exchange agent for the Exchange Offer, reported that
approximately $299.7 million and
$129.0 million aggregate principal amounts of 2026 Debentures and 2025 Debentures,
respectively, were validly tendered and not validly withdrawn prior to the expiration of the
Exchange Offer. The Company accepted for exchange all of the tendered 2026 Debentures and
approximately $57.7 million aggregate principal amount of the 2025 Debentures. The final proration
factor for the 2025 Debentures was determined to be approximately 44.7%.
Upon settlement of the Exchange Offer on August 27, 2009, the Company issued a total of $345.0
million aggregate principal amount of 6.0% Convertible Senior Debentures due 2029 (the 2029
Debentures) in exchange for accepted 2026 Debentures and 2025 Debentures. Following the
settlement of the Exchange Offer, approximately $0.3 million and $92.3 million aggregate
principal amounts of the 2026 Debentures and the 2025 Debentures,
respectively, remain outstanding.
In
settlement of the Exchange Offer, the Company paid an aggregate of
approximately $3.1 million in
cash, representing accrued and unpaid interest payable in respect of exchanged 2026 Debentures and
2025 Debentures and amounts payable in lieu of fractional 2029 Debentures otherwise issuable under
the terms of the Exchange Offer.
The information agent for the Exchange Offer was Global Bondholder Services Corporation. The Lead
Dealer Managers for the Exchange Offer were Goldman, Sachs & Co. and Barclays Capital Inc. The
Co-Dealer Managers for the Exchange Offer were Credit Suisse Securities (USA) LLC, Wells Fargo
Securities, LLC, Robert W. Baird & Co. Incorporated and Raymond James & Associates, Inc.
This press release is neither an offer to sell nor a solicitation of an offer to buy any
securities.
# # #
WESCO International, Inc. (NYSE: WCC) is a publicly traded Fortune 500 holding company,
headquartered in Pittsburgh, Pennsylvania, whose primary operating entity is WESCO Distribution,
Inc. WESCO Distribution is a leading distributor of electrical construction products and electrical
and industrial maintenance, repair and operating (MRO) supplies, and is the nations largest
provider of integrated supply services. 2008 annual sales were approximately $6.1 billion. The
Company employs approximately 6,400 people, maintains relationships with over 23,000 suppliers, and
serves more than 115,000 customers worldwide. Major markets include commercial and industrial
firms, contractors, government agencies, educational institutions, telecommunications businesses
and utilities. WESCO operates seven fully automated distribution centers and approximately 400
full-service branches in North America and select international markets, providing a local presence
for area customers and a global network to serve multi-location businesses and multi-national
corporations.
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The matters discussed herein may contain forward-looking statements that are subject to certain
risks and uncertainties that could cause actual results to differ materially from expectations.
Certain of these risks are set forth in the Companys Annual Report on Form 10-K for the fiscal
year ended December 31, 2008, as well as the Companys other reports filed with the Securities and
Exchange Commission.