Pricing of Private Offering of Senior Subordinated Notes
ST. LOUIS--(BUSINESS WIRE)-- Belden Inc. (NYSE: BDC) today announced the pricing of its private offering (the “Notes Offering”) of €300 million in aggregate principal amount of 2.875% senior subordinated notes due 2025 at an issue price of 100% of the principal amount. Belden expects the Notes Offering to close on September 19, 2017, subject to customary closing conditions. The notes will be guaranteed on a senior subordinated basis by certain of Belden’s current and future domestic subsidiaries that guarantee Belden’s indebtedness under its revolving credit agreement.
Belden intends to use the net proceeds from the Notes Offering along with cash on hand to fund its concurrent cash tender offer for up to €300 million in aggregate principal amount of its outstanding 5.5% senior subordinated notes due 2023 (“2023 Notes”). To the extent Belden purchases less than €300 million aggregate principal amount of the 2023 Notes in the tender offer, it intends to redeem an amount of the 2023 Notes, which when combined with the 2023 Notes tendered and purchased in the tender offer, will equal €300 million. The Notes Offering is not conditioned on the consummation of the tender offer at any minimum level of acceptance.
The securities offered have not been registered under the Securities Act of 1933, as amended (the “Securities Act”) or any state securities laws; and unless so registered, the securities may not be offered or sold in
This announcement shall not constitute an offer to sell or a solicitation of an offer to buy any of these securities, nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state. The tender offer is not open to U.S. persons (as defined under the Securities Act) or persons resident or located in
In connection with the Notes Offering, the initial purchasers may engage in stabilizing transactions with a view to supporting the market price of the notes at a level higher than that which might otherwise prevail. Any stabilization action must be conducted in accordance with all applicable laws and rules.
Forward Looking Statements
This press release includes “forward-looking statements.” All statements other than statements of historical facts included herein may constitute forward-looking statements. Actual results could vary significantly from those expressed or implied in such statements and are subject to a number of risks and uncertainties. Although Belden believes that the expectations reflected in the forward-looking statements are reasonable, Belden can give no assurance that such expectations will prove to be correct. The forward-looking statements involve risks and uncertainties that affect operations, financial performance and other factors, as discussed in filings with the