CommScope Holding Company, Inc. (NASDAQ: COMM) wholly owned subsidiary, CommScope Technologies LLC (the “Issuer”), has priced its offering of USD 750m in aggregate principal amount of 5.000% senior unsecured notes due 2027 (the “Notes”), the company said.
The notes are being offered to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”), and to certain non-US persons outside the United States in reliance on Regulation S under the Securities Act.
The notes will be guaranteed on a senior unsecured basis by CommScope, Inc. and each of its existing and future wholly owned domestic restricted subsidiaries, subject to certain exceptions.
The Issuer currently intends to use the net proceeds of the offering of the Notes, together with cash on hand, to (i) redeem and retire the USD 500m in outstanding aggregate principal amount of CommScope, Inc.´s 4.375% senior secured notes due 2020, (ii) repay a portion of the outstanding borrowings under CommScope, Inc.´s senior secured term loan facility and (iii) pay fees and expenses related to the foregoing.
CommScope helps companies around the world design, build and manage their wired and wireless networks.