Anixter To Offer $400 Mln Senior Notes Due 2021 In Underwritten Public Offering

(RTTNews) - Anixter International Inc. (AXE) announced that its wholly-owned operating subsidiary, Anixter Inc., will offer $400 million of senior notes due 2021 in an underwritten public offering.

Anixter International Inc. will fully and unconditionally guarantee the notes, which will be unsecured obligations of Anixter Inc. The net proceeds will be used to repay amounts outstanding under Anixter's accounts receivable securitization program and to repay borrowings under Anixter's revolving line of credit. The offering is being made under Anixter Inc.'s shelf registration statement.

Wells Fargo Securities, LLC, Merrill Lynch, Pierce, Fenner and Smith Incorporated, J.P. Morgan Securities LLC and RBS Securities Inc. are acting as joint book-running managers for the offering.