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DEBT (Tables)
 3 Months Ended
Mar. 31, 2021
Debt Disclosure [Abstract]  
Schedule of Debt
8. DEBT
The following table sets forth WESCO's outstanding indebtedness:
As of
March 31,
2021		December 31,
2020
(In thousands)
International lines of credit$20,293 $29,575 
Accounts Receivable Securitization Facility945,000 950,000 
Revolving Credit Facility475,000 250,000 
5.375% Senior Notes due 2021— 500,000 
5.50% Anixter Senior Notes due 202358,636 58,636 
5.375% Senior Notes due 2024350,000 350,000 
6.00% Anixter Senior Notes due 20254,173 4,173 
7.125% Senior Notes due 20251,500,000 1,500,000 
7.250% Senior Notes due 2028, less debt discount of $9,021 and $9,332 in 2021 and 2020, respectively
1,315,979 1,315,668 
Finance lease obligations17,582 17,931 
Total debt4,686,663 4,975,983 
Plus: Fair value adjustment to the Anixter Senior Notes1,479 1,650 
Less: Unamortized debt issuance costs(74,606)(78,850)
Less: Short-term debt and current portion of long-term debt(20,802)(528,830)
Total long-term debt$4,592,734 $4,369,953 
5.375% Senior Notes due 2021
In November 2013, WESCO Distribution issued $500 million aggregate principal amount of 5.375% Senior Notes due 2021 (the "2021 Notes") through a private offering exempt from the registration requirements of the Securities Act of 1933, as amended (the “Securities Act”). The 2021 Notes were issued at 100% of par and were governed by an indenture (the “2021 Indenture”) entered into on November 26, 2013 between WESCO International and U.S. Bank National Association, as trustee. The 2021 Notes were unsecured senior obligations of WESCO Distribution and were guaranteed on a senior unsecured basis by WESCO International. The 2021 Notes had a stated interest rate of 5.375% per annum, payable semi-annually in arrears on June 15 and December 15 of each year. The 2021 Notes had a maturity date of December 15, 2021 and were redeemable in whole or in part at any time. The net proceeds of the 2021 Notes were used to prepay a portion of the U.S. sub-facility of the then outstanding term loan due 2019.
Under the terms of a registration rights agreement dated as of November 26, 2013 among WESCO Distribution, WESCO International and Merrill Lynch, Pierce, Fenner & Smith Incorporated, as the representative of the initial purchasers of the 2021 Notes, WESCO Distribution and WESCO International agreed to register under the Securities Act notes having terms identical in all material respects to the 2021 Notes (the “2021 Exchange Notes”) and to make an offer to exchange the 2021 Exchange Notes for the 2021 Notes. WESCO Distribution launched the exchange offer on June 12, 2014 and the exchange offer expired on July 17, 2014.
On December 15, 2020, WESCO Distribution exercised its right to redeem the entire $500 million aggregate principal amount of the 2021 Notes, and U.S. Bank, National Association, as trustee under the 2021 Indenture, issued a notice of redemption to registered holders of the 2021 Notes.
On January 14, 2021 (the “Redemption Date”), WESCO Distribution redeemed the $500 million aggregate principal amount of the 2021 Notes at a redemption price equal to 100% of the principal amount plus accrued interest to, but not including, the Redemption Date. The redemption of the 2021 Notes was funded with available cash, as well as borrowings under the Company's accounts receivable securitization and revolving credit facilities.