=============================================================================== 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): MARCH 17, 2003 WESCO INTERNATIONAL, INC. (Exact name of registrant as specified in its charter) Commission file number 001-14989 DELAWARE 25-1723342 (State or other jurisdiction (IRS Employer Identification No.) of incorporation or organization) 225 WEST STATION SQUARE DRIVE SUITE 700 PITTSBURGH, PENNSYLVANIA 15219 (412) 454-2200 (Address of principal executive offices) (Registrant's telephone number, including area code) N/A (Former name or former address, if changed since last report) ===============================================================================
ITEM 5. OTHER EVENTS. WESCO International, Inc. ("WESCO") is furnishing the following information under Item 5 of this Current Report on Form 8-K. On March 17, 2003, WESCO announced it had successfully completed a series of mortgage financings. The real estate mortgage financings totaled $51 million and included 75 properties throughout the United States. The proceeds of the loans were used to reduce borrowings under the revolving credit and the accounts receivable securitization facilities. The mortgage financings have a ten-year term with a 22-year amortization and carry a fixed rate of 6.5% A copy of the press release announcing the financing is attached hereto as Exhibit 99.1 and is incorporated herein by reference. ITEM 7. Financial Statements and Exhibits. a) Financial Statements of businesses acquired. Not applicable. b) Pro forma financial information. Not applicable. c) Exhibits 99.1 Press release of WESCO International, Inc. dated March 17, 2003. 2
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. March 17, 2003 WESCO International, Inc. --------------- ----------------------------------------- (Date) /s/ Stephen A. Van Oss ----------------------------------------- Stephen A. Van Oss Vice President, Chief Financial Officer 3
EXHIBIT INDEX Exhibit 99.1: Press release of WESCO International, Inc. dated March 17, 2003. 4
Exhibit 99.1 NEWS RELEASE - ---------------------------------------------------------------------- WESCO International, Inc. / Suite 700, 225 West Station Square Drive / Pittsburgh, PA 15219 WESCO INTERNATIONAL, INC. ANNOUNCES COMPLETION OF $51 MILLION REAL ESTATE FINANCING Contact: Stephen A. Van Oss, Chief Financial Officer WESCO International, Inc. (412) 454-2271, Fax: (412) 454-2477 http://www.wescodist.com Pittsburgh, PA, March 17, 2003 - WESCO International, Inc. [NYSE:WCC], a leading provider of electrical MRO products, construction materials, and advanced integrated supply procurement outsourcing services, today announced that it had successfully completed a series of mortgage financings. The real estate mortgage financings totaled $51 million and included 75 properties located throughout the United States. The proceeds of the loans were used to reduce borrowings under the revolving credit and the accounts receivable securitization facilities. The mortgage financings have a ten-year term with a 22-year amortization and carry a fixed rate of 6.50%. Stephen A. Van Oss, Vice President and Chief Financial Officer, stated, "This financing represents another milestone in the ongoing improvement to WESCO's capital structure locking in fixed rate debt at very attractive levels utilizing our diversified portfolio of real estate assets. This financing is the third major financing undertaken by the Company over the past 18 months. In August 2001, the Company successfully placed $100 million of 9.125% senior subordinated notes due 2008 followed by the completion in March 2002 of a $290 million, five-year revolving credit facility. All three of these actions have resulted in an improved capital structure, greater operational flexibility, and record liquidity. " # # # 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 nation's largest provider of integrated supply services with 2002 annual product sales of approximately $3.3 billion. The Company employs approximately 5,500 people, maintains relationships with 24,000 suppliers, and serves more than 100,000 customers worldwide. Major markets include commercial and industrial firms, contractors, government agencies, educational institutions, telecommunications businesses and utilities. WESCO operates five fully automated distribution centers and over 350 full-service branches in North America and selected international markets, providing a local presence for area customers and a global network to serve multi-location businesses and multi-national corporations. 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 Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2001, as well as the Company's other reports filed with the Securities and Exchange Commission. # # #