ST. LOUIS--(BUSINESS WIRE)--
Belden Inc. (NYSE: BDC) today announced that, subject to market
conditions, it intends to offer €300 million in aggregate principal
amount of senior subordinated notes due 2025 for sale to eligible
purchasers in a private offering (the “Notes Offering”).
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 to be 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 the United States except pursuant to an exemption
from, or in a transaction not subject to, the registration requirements
of the Securities Act and applicable state securities laws. The notes
are expected to be eligible for resale to qualified institutional buyers
under Rule 144A and non-U.S. persons under Regulation S.
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 the United States. This announcement
shall not constitute an offer to purchase or a solicitation of an offer
to sell the 2023 Notes, which are the subject of the above-referenced
cash tender offer.
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.
About Belden
Belden Inc. delivers a comprehensive product portfolio designed to meet
the mission-critical network infrastructure needs of industrial,
enterprise and broadcast markets. With innovative solutions targeted at
reliable and secure transmission of rapidly growing amounts of data,
audio and video needed for today's applications, Belden is at the center
of the global transformation to a connected world. Founded in 1902, the
company is headquartered in St. Louis and has manufacturing capabilities
in North and South America, Europe and Asia.
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Source: Belden Inc.