Toronto and Montreal advises Barclays Bank PLC on US$1.1bn credit facility for WESCO Distribution Inc.
Canada | July 22, 2020
Client: Barclays Bank PLC
Our Toronto and Montreal offices acted as Canadian counsel to Barclays Bank PLC and to the other lenders on a US$1.1bn Canadian and US revolving credit facility in favour of WESCO Distribution, Inc., WESCO Distribution Canada LP and the other borrowers (collectively “WESCO”). The transaction closed on June 22, 2020.
The financing, among other things, increased WESCO’s Canadian and US revolving facilities from US$600m to US$1.1bn. A portion of the financing was used to fund WESCO’s acquisition of Anixter Inc. and for general business purposes.
WESCO is a provider of electrical, industrial, and communications maintenance, repair and operating (MRO) and original equipment manufacturer (OEM) products, construction materials, and advanced supply chain management and logistic services. Anixter is a leading global distributor of network and security solutions, electrical and electronic solutions and utility power solutions which help build, connect, power and protect valuable assets and critical infrastructures.
The team included David Amato, Russell Dufault, Olga Lenova and Thomas Nichols.