Graybar Electric Closes $500 Million in Financing; Opens New York Branch

Graybar Electric Co., St. Louis, Mo., announced that on Sept. 28 it entered into a $500 million, five-year unsecured revolving line of credit. Bank of America Merrill Lynch was the lead institution in the transaction, with PNC, U.S. Bank, SunTrust Bank and J.P. Morgan acting as joint lead arrangers. Commerce Bank, Regions Bank, Wells Fargo, Fifth Third Bank, Comerica and UMB also participated in the transaction.

A press release announcing the financing said the deal was marketed and p

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