Wesco to redeem remaining $56,000 of its 1.75% convertible debentures

By Ashley Montgomery

Kansas City, Kan., Nov. 30 - Wesco International, Inc. will redeem all $56,000 of its outstanding 1.75% convertible senior debentures due 2026 on Jan. 3, the company said in a news release.

The debentures will be redeemed at par plus accrued interest to the redemption date. The total price will be $1,002.3333 per $1,000 principal amount.

Holders may convert the debentures up to 5 p.m. ET on Dec. 28, the release said. The conversion rate is 11.3437 common shares per $1,000 principal amount of debentures. Wesco stock closed at $47.09 on Tuesday.

Available funds will be used to finance the redemption, the company said.

Wesco is a Pittsburgh-based distributor of electrical construction products and supplies.

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