Wesco greenshoe exercised in full, lifting 2.625% convertibles offering to $150 million

By Jennifer Chiou

New York, Sept. 27 - Wesco International announced its $25 million greenshoe was fully exercised, raising its offering of 2.625% convertibles due Oct. 15, 2025 to $150 million.

The Pittsburgh company sold $125 million of the convertibles on Sept. 21 at par with a 35% initial conversion premium.

Lehman Brothers Inc. and Goldman, Sachs & Co. were the bookrunners.

Wesco provides electrical construction products as well as electrical and industrial maintenance, repair and operating supplies.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.