Anixter International Inc. Announces Tender Offer by Anixter Inc. for Any and All of Its $350 Million 5.625% Senior Notes Due 2019 and Related Solicitation of Consents

Anixter International Inc. (NYSE: AXE) today announced that its wholly-owned operating subsidiary Anixter Inc. has commenced a cash tender offer for any and all of its outstanding 5.625% Senior Notes due 2019, upon the terms and conditions described in Anixter’s Offer to Purchase and Consent Solicitation Statement dated October 29, 2018, and a related consent solicitation for certain amendments to the indenture governing the notes (together, the “Tender Offer”).

The Tender Offer will expire at 11:59 p.m. New York City time, on November 27, 2018, unless extended (such date and time, as the same may be extended, the “Expiration Time”). Holders who validly tender their notes prior to 5:00 p.m. New York City time, on November 9, 2018, unless extended (such date and time, as the same may be extended, the “Consent Date”), will be entitled to receive the total consideration of $1,011.32 per $1,000 principal amount of notes validly tendered and accepted for purchase, which includes a consent payment of $30.00 per $1,000 principal amount of notes validly tendered and accepted for purchase, plus any accrued and unpaid interest on the notes up to, but not including, the payment date for such notes. The Tender Offer contemplates an early settlement option, so that holders whose notes are validly tendered prior to the Consent Date and accepted for purchase could receive payment as early as November 13, 2018. Holders who validly tender their Notes after the Consent Date but prior to the Expiration Time will be entitled to receive $981.32 per $1,000 principal amount of notes validly tendered and accepted for purchase, plus any accrued and unpaid interest on the notes up to, but not including, the payment date for such notes. Notes tendered prior to the Consent Date may be withdrawn at any time before 5:00 p.m. New York City time, on November 9, 2018 (such date and time as may be extended, the “withdrawal time”).

Holders tendering their notes in the Tender Offer will be deemed to have delivered their consent to the proposed amendments to the indenture governing the notes, which will eliminate certain of the restrictive covenants applicable to the notes and reduce the minimum notice period to call the notes from 30 days to 3 business days. Following receipt of consents of at least a majority in aggregate principal amount of the outstanding notes, Anixter, Anixter International and the trustee for the notes will execute a supplemental indenture effecting the proposed amendments.