Belden (BDC) Announces Potential Private Placement of Senior Subordinated Notes & Amendment to Revolving Credit Facility

June 23, 2009 4:11 PM EDT

Belden Inc. (NYSE: BDC) announced that it is planning to offer $200 million aggregate principal amount of senior subordinated notes due 2019. Belden intends to use the net proceeds from this offering to repay existing debt under its senior secured credit facility. The notes will be unsecured senior subordinated obligations of Belden and will be guaranteed on a senior subordinated basis by its current and future domestic subsidiaries that guarantee its senior secured credit facility. The notes will bear interest at a fixed rate.

Under the terms of the amendment, the principal amount available under the facility will be reduced from $350 million to $250 million, and the incremental facility thereunder will be reduced from $150 million to $100 million. The facility will also allow each lender to elect to extend the maturity date of its outstanding commitments under the facility until January 24, 2013. Commitments not so extended will mature on January 24, 2011.

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