Anixter to price $250 million seven-year bullet in Monday drive-by

By Paul A. Harris

Portland, Ore., Oct. 29 – Anixter, Inc. plans to price a $250 million offering of seven-year senior bullet notes (Ba3/BB/BBB-) in a quick-to-market Monday trade following a late-morning conference call with investors, according to a syndicate source.

Wells Fargo Securities LLC is the left bookrunner for the Rule 144A with registration rights offering. J.P. Morgan Securities LLC and BofA Merrill Lynch are the joint bookrunners. SunTrust Robinson Humphrey Inc., HSBC Securities (USA) LLC and PNC Capital Markets LLC are the co-managers.

The notes feature a par call three months prior to maturity but are otherwise non-callable.

The Glenview, Ill.-based distributor of enterprise cabling and security solutions plans to use the proceeds, together with cash on hand, to refinance $350 million of its senior notes due 2019.

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