Anixter International Inc. Announces Completion of a $350 Million Senior Note Offering by Anixter Inc.
August 18 2015 - 3:30PM
Business Wire
Anixter International Inc. (NYSE: AXE) announced today that its
wholly-owned operating subsidiary, Anixter Inc., completed the
previously announced sale of $350 million of 5.50% senior notes due
2023. Anixter International Inc. fully and unconditionally
guarantees the notes, which are unsecured obligations of Anixter
Inc.
Anixter intends to use the net proceeds of the offering to fund
a portion of the consideration for the previously announced
acquisition of HD Supply’s Power Solutions business. If the
acquisition agreement is terminated, or the acquisition otherwise
does not close, at any time on or prior to January 15, 2016, the
notes will be subject to a special mandatory redemption, at a
redemption price equal to 100% of the initial issue price of the
notes, plus accrued and unpaid interest. Prior to closing the
acquisition, Anixter may use the net proceeds to make short-term
liquid investments at its discretion.
The notes were sold in the United States to qualified
institutional buyers pursuant to Rule 144A under the Securities Act
of 1933, as amended, and outside the United States pursuant to
Regulation S under the Securities Act. The notes and the related
guarantee have not been registered under the Securities Act, or any
state securities laws, and, unless so registered, may not be
offered or sold in the United States absent registration or an
applicable exemption from the registration requirements of the
Securities Act and applicable state securities laws.
This press release is for informational purposes only and does
not constitute an offer to sell the Notes, nor a solicitation for
an offer to purchase the Notes, nor shall there be any sales of
Notes in any jurisdiction in which such offer, solicitation or sale
would be unlawful prior to registration or qualification under the
securities laws of any such jurisdiction.
About Anixter
Anixter International is a leading global distributor of
enterprise cabling and security solutions, electrical and
electronic wire and cable. The company adds value to the
distribution process by providing its customers access to 1)
innovative inventory management programs 2) approximately 400,000
products and $800 million in inventory 3) approximately 220
warehouses/branch locations with 5.5 million square feet of space
and 4) locations in over 250 cities in more than 50 countries.
Founded in 1957 and headquartered near Chicago, Anixter trades on
the New York Stock Exchange under the symbol AXE.
Safe Harbor Statement
The statements in this release other than historical facts are
forward-looking statements made in reliance upon the safe harbor of
the Private Securities Litigation Reform Act of 1995. These
forward-looking statements are subject to a number of factors that
could cause our actual results to differ materially from what is
indicated here. These factors include but are not limited to: the
ability to consummate the acquisition; the risk that regulatory
approvals required for the acquisition are not obtained or are
obtained subject to conditions that are not anticipated; the risk
that the other financing required to fund the acquisition is not
obtained; the risk that the other conditions to the closing of the
acquisition are not satisfied; potential adverse reactions or
changes to business or employee relationships, including those
resulting from the announcement or completion of the acquisition;
uncertainties as to the timing of the closing; general economic
conditions; the level of customer demand particularly for capital
projects in the markets we serve; changes in supplier sales
strategies or financial viability; risks associated with the sale
of nonconforming products and services; political, economic or
currency risks related to foreign operations; inventory
obsolescence; copper price fluctuations; customer viability; risks
associated with accounts receivable; the impact of regulation and
regulatory, investigative and legal proceedings and legal
compliance risks; and risks associated with integration of acquired
companies. These uncertainties may cause our actual results to be
materially different than those expressed in any forward looking
statements. We do not undertake to update any forward looking
statements. Please see our Securities and Exchange Commission
(“SEC”) filings for more information.
Additional information about Anixter is
available at anixter.com
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Anixter International Inc.INVESTOR CONTACTSTed
DoschEVP - Finance & Chief Financial Officer(224)
521-4281orLisa Micou Meers, CFAVP - Investor
Relations(224) 521-8895
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