SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): December 29, 2006

WESCO INTERNATIONAL, INC.

(Exact name of registrant as specified in its charter)

Delaware		001-14989		25-1723345
(State or other jurisdiction of incorporation)		(Commission File Number)		(IRS Employer Identification No.)

225 West Station Square Drive, Suite 700 Pittsburgh, Pennsylvania		15219
(Address of principal executive offices)		(Zip code)

Registrant’s telephone number, including area code: (412) 454-2200

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:

o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

 

Item 1.01. Entry into a Material Definitive Agreement.

     On December 29, 2006, WESCO Receivables Corp. (“WESCO Receivables”), WESCO Distribution, Inc. (“WESCO Distribution”), the purchasers and purchaser agents party thereto and Wachovia Capital markets, LLC (as successor to Wachovia Securities, Inc.), as Administrator, entered into a Seventh Amendment to Second Amended and Restated Receivables Purchase Agreement, dated as of December 29, 2006 (the “Seventh Amendment”). The Seventh Amendment amends WESCO Distribution’s existing $400 million accounts receivable securitization facility (the “Receivables Facility”). WESCO Distribution is a wholly-owned subsidiary of WESCO International, Inc. (the “Company”).

     An outcome of the Seventh Amendment is a required change in the accounting treatment and financial statement presentation of the Receivables Facility. Sales of accounts receivable pursuant to the Receivables Facility historically have qualified for “sale treatment” under generally accepted accounting principles and the Company removed the accounts receivable from its consolidated balance sheet and accounted for the Receivables Facility as an off-balance sheet arrangement. As a result of the Seventh Amendment, future sales of accounts receivable pursuant to the Receivables Facility will no longer qualify for “sale treatment” under generally accepted accounting principles. Therefore, the Company’s consolidated balance sheet will reflect the additional accounts receivable and related borrowings. The Company’s consolidated statements of income will not be significantly impacted, except that expenses related to the Receivables Facility which were previously recorded as other expense will be classified as interest expense.

     As of September 30, 2006, $315 million in funding was outstanding under the Receivables Facility. WESCO Distribution and WESCO Receivables were in compliance with all applicable financial covenants and other restrictions under the Receivables Facility as of the date of the Seventh Amendment.

     The foregoing is a summary of the Seventh Amendment and not a complete discussion of the document. Accordingly, the foregoing is qualified in its entirety by reference to the full text of the Seventh Amendment, which is filed as Exhibit 10.1 to this Current Report and is incorporated herein by reference, and the description of the Receivables Facility contained in the Company’s Quarterly Report on Form 10-Q for its fiscal quarter ended September 30, 2006, which is incorporated herein by reference.

Item 9.01. Financial Statements and Exhibits

     (d) Exhibits

Exhibit 10.1

Seventh Amendment to Second Amended and Restated Receivables Purchase Agreement, dated as of December 29, 2006, by and among WESCO Receivables Corp., WESCO Distribution, Inc., the Purchasers and Purchaser Agents party thereto, and Wachovia Capital Markets, LLC (as successor to Wachovia Securities, Inc.) as Administrator (filed herewith).

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.

		WESCO INTERNATIONAL, INC.
		By:		/s/ Stephen A. Van Oss
				Stephen A. Van Oss Senior Vice President and Chief Financial and Administrative Officer

Dated: December 29, 2006

Exhibit 10.1

SEVENTH AMENDMENT TO SECOND AMENDED AND RESTATED
RECEIVABLES PURCHASE AGREEMENT

     This SEVENTH AMENDMENT TO SECOND AMENDED AND RESTATED RECEIVABLES PURCHASE AGREEMENT (this “Amendment”), dated as of December 29, 2006, is entered into among WESCO RECEIVABLES CORP. (the “Seller”), WESCO DISTRIBUTION, INC. (the “Servicer”), the Purchasers (each, a “Purchaser”) and Purchaser Agents (each, a “Purchaser Agent”) party hereto, and WACHOVIA CAPITAL MARKETS, LLC (as successor to Wachovia Securities, Inc.), as Administrator (the “Administrator”).

RECITALS

     1. The Seller, Servicer, each Purchaser, each Purchaser Agent and the Administrator are parties to the Second Amended and Restated Receivables Purchase Agreement dated as of September 2, 2003 (as amended through the date hereof, the “Agreement”); and

     2. The parties hereto desire to amend the Agreement as hereinafter set forth.

     NOW THEREFORE, for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties agree as follows:

     1. Certain Defined Terms. Capitalized terms that are used herein without definition and that are defined in Exhibit I to the Agreement shall have the same meanings herein as therein defined.

     2. Amendments to Agreement.

     (a) Section 1.1 of the Agreement is hereby amended by adding a new paragraph (c) thereto to read as follows:

(c) The Seller may, upon 30 days’ (but not greater than 45 days’) prior written notice to the Administrator and each Purchaser Agent, repay in whole (but not in part) the entire Aggregate Investment (and all accrued and unpaid Discount thereon) by making a cash payment of such amount to the Purchaser Agents for the benefit of the related Purchasers. Such payments shall be made to the applicable Purchaser Agents for the ratable benefit of the related Purchasers (ratably based on the Investments outstanding at such time) and the Investment (and accrued and unpaid Discount) of each Purchaser shall only be deemed to be reduced by such payment when such payment is finally so paid to such Purchaser in full in cash. All payments as repayments made pursuant to this paragraph shall be subject to any applicable Termination Fee payable to any Purchaser at such time in connection therewith.

     (b) Schedule II to the Agreement is hereby amended and restated in its entirety as attached hereto.

     3. Representations and Warranties. The Seller and Servicer hereby represent and warrant to each of the parties hereto as follows:

     (a) Representations and Warranties. The representations and warranties contained in Exhibit III of the Agreement are true and correct as of the date hereof.

     (b) No Default. Both before and immediately after giving effect to this Amendment and the transactions contemplated hereby, no Termination Event or Unmatured Termination Event exists or shall exist.

     4. Effect of Amendment. All provisions of the Agreement, as expressly amended and modified by this Amendment, shall remain in full force and effect. After this Amendment becomes effective, all references in the Agreement (or in any other Transaction Document) to “this Agreement”, “hereof”, “herein” or words of similar effect referring to the Agreement shall be deemed to be references to the Agreement as amended by this Amendment. This Amendment shall not be deemed, either expressly or impliedly, to waive, amend or supplement any provision of the Agreement other than as set forth herein.

     5. Effectiveness. This Amendment shall become effective as of the date hereof upon receipt by the Administrator of (a) counterparts of this Amendment (whether by facsimile or otherwise) executed by each of the other parties hereto, in form and substance satisfactory to the Administrator in its sole discretion and (b) such other agreements, documents and instruments as the Administrator shall request.

     6. Counterparts. This Amendment may be executed in any number of counterparts and by different parties on separate counterparts, each of which when so executed shall be deemed to be an original and all of which when taken together shall constitute but one and the same instrument.

     7. Governing Law. This Amendment shall be governed by, and construed in accordance with, the internal laws of the State of New York without regard to any otherwise applicable principles of conflicts of law (other than Sections 5-1401 and 5-1402 of the New York General Obligations Law).

     8. Section Headings. The various headings of this Amendment are included for convenience only and shall not affect the meaning or interpretation of this Amendment, the Agreement or any provision hereof or thereof.

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     IN WITNESS WHEREOF, the parties hereto have executed this Amendment as of the date first written above.

		WESCO RECEIVABLES CORP.
		By:		/s/ Daniel A. Brailer
		Name:		Daniel A. Brailer
		Title:		Treasurer
		WESCO DISTRIBUTION, INC., as Servicer
		By:		/s/ Daniel A. Brailer
		Name:		Daniel A. Brailer
		Title:		Vice President

		WACHOVIA CAPITAL MARKETS, LLC, as Administrator
		By:		/s/ William P. Rutkowski
		Name:		William P. Rutkowski
		Title:		Vice President

		MARKET STREET FUNDING LLC (as successor to Market Street Funding Corporation), as a Conduit Purchaser
		By:		/s/ Doris J. Hearn
		Name:		Doris J. Hearn
		Title:		Vice President
		PNC BANK, NATIONAL ASSOCIATION, as Purchaser Agent for Market Street Funding LLC
		By:		/s/ John T. Smathers
		Name:		John T. Smathers
		Title:		Vice President

		GENERAL ELECTRIC CAPITAL CORPORATION, as a Conduit Purchaser
		By:		/s/ W. Russ Brightly
		Name:		W. Russ Brightly
		Title:		Duly Authorized Signatory
		GENERAL ELECTRIC CAPITAL CORPORATION, as Purchaser Agent for General Electric Capital Corporation
		By:		/s/ W. Russ Brightly
		Name:		W. Russ Brightly
		Title:		Duly Authorized Signatory

		VARIABLE FUNDING CAPITAL COMPANY LLC, as a Conduit Purchaser
		By:		Wachovia Capital Markets, LLC, as Attorney in Fact
		By:		/s/ Douglas R. Wilson, Sr.
		Name:		Douglas R. Wilson, Sr.
		Title:		Vice President
		WACHOVIA BANK, NATIONAL ASSOCIATION, as Purchaser Agent for Variable Funding Capital Company LLC
		By:		/s/ William P. Rutkowski
		Name:		William P. Rutkowski
		Title:		Vice President

		FIFTH THIRD BANK, as a Conduit Purchaser
		By:		/s/ Brian J. Gardner
		Name:		Brian J. Gardner
		Title:		Vice President
		FIFTH THIRD BANK, as Purchaser Agent for Fifth Third Bank
		By:		/s/ Brian J. Gardner
		Name:		Brian J. Gardner
		Title:		Vice President

		THE RELATED COMMITTED PURCHASERS:
		PNC BANK, NATIONAL ASSOCIATION, as a Related Committed Purchaser for Market Street Funding LLC
		By:		/s/ John T. Smathers
		Name:		John T. Smathers
		Title:		Vice President

		FIFTH THIRD BANK, as a Related Committed Purchaser for Fifth Third Bank
		By:		/s/ Brian J. Gardner
		Name:		Brian J. Gardner
		Title:		Vice President

		GENERAL ELECTRIC CAPITAL CORPORATION, as a Related Committed Purchaser for General Electric Capital Corporation
		By:		/s/ W. Russ Brightly
		Name:		W. Russ Brightly
		Title:		Duly Authorized Signatory

		WACHOVIA BANK, NATIONAL ASSOCIATION, as a Related Committed Purchaser for Variable Funding Capital Company LLC
		By:		/s/ William P. Rutkowski
		Name:		William P. Rutkowski
		Title:		Vice President

[Certain Schedules have been omitted and will be furnished upon request.]