CommScope amends $1 billion revolving credit agreement

Chicago, Oct. 20 – CommScope, Inc. amended its revolving credit facility from 2019 with JPMorgan Chase Bank, NA as administrative agent and collateral agent on Oct. 19, according to an 8-K filing with the Securities and Exchange Commission.

The total revolving credit agreement is for $1 billion, with amounts available as tranche A loans or tranche B loans.

The amended agreement changed the benchmark rate to SOFR, Euribor, Sonia or Saron, depending on the currency.

If excess availability is less than 50%, the margin will be 150 basis points and if it is greater than or equal to 50%, the margin will be 125 bps.

The commitment fee will be between 25 bps and 37.5 bps.

The maturity date is Sept. 30, 2027, subject to a potential springing maturity date.

JPMorgan Chase Bank, NA, Bank of America, NA, Deutsche Bank Securities Inc., Wells Fargo Bank, NA, U.S. Bank NA, Mizuho Securities USA LLC, Citibank, NA, Goldman Sachs Bank USA and BNP Paribas Securities Corp. are the joint lead arrangers, joint bookrunners and co-syndications agents.

Regions Bank is the documentation agent.

Initially, the proceeds will be used to repay all existing revolving loans. Going forward, proceeds will be used for working capital and general corporate purposes.

CommScope is a Hickory, N.C.-based provider of infrastructure services for communication networks.

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