Anixter to price $350 million seven-year bullet notes on Wednesday

By Paul A. Harris

Portland, Ore., April 24 - Anixter Inc. will host an investor call at 11:30 a.m. ET on Wednesday for a $350 million offering of non-callable seven-year notes (expected ratings Ba3/BB), according to a syndicate source.

The deal is set to price on Wednesday afternoon.

Wells Fargo Securities LLC is the left bookrunner for the notes, which have been registered with the Securities and Exchange Commission. Bank of America Merrill Lynch, J.P. Morgan Securities LLC and RBS Securities Inc. are the joint bookrunners.

UBS Investment Bank is the co-manager.

Proceeds will be used to repay the accounts receivable securitization, to repay revolver debt and for general corporate purposes.

Anixter is a Glenview, Ill.-based distributor of communication products, electrical and electronic wire and cable, fasteners and other small parts.

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