Belden tenders for €300 million of 5½% subordinated notes at 105.8

By Susanna Moon

Chicago, Sept. 11 – Belden Inc. is tendering for up to €300 million of its €500 million principal amount 5½% senior subordinated notes due 2023.

The purchase price will be 105.8% of par.

The tender offer will remain open until 11 a.m. ET on Sept. 15.

The notes were issued for an original principal amount of €468,775,000, consisting of €277,450,000 issued on March 21, 2013 and €191,325,000 issued on Nov. 25, 2014, according to a company announcement.

The aggregate principal amount of the notes held under Regulation S may have changed since the original issue, the company noted.

The tender does not include the Rule 144A notes, and no Rule 144A notes will be accepted for purchase under the offer, the company added.

Belden said it is holding the offer as part of a refinancing in which it expects to issue new senior subordinated notes.

The tender is contingent on the issue of the new notes with proceeds of at least €300 million.

Settlement is expected to occur on Sept. 19.

The issuer said it also may redeem the notes under the optional redemption provision on Oct. 19.

Notes may only be tendered in minimum denominations of €100,000 and in integrals of €1,000 after that.

The information agent is D.F. King & Co., Inc. (+44 20 7920 9700, +852 3953 7230, belden@dfkingltd.com or https://sites.dfkingltd.com/belden). The dealer manager is Deutsche Bank Securities Inc. (+44 20 7545 8011).

Belden is a St. Louis-based designer, manufacturer and seller of signal transmission solutions for industrial automation, data centers, broadcast studios and aerospace markets.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.