Belden draws $200 million under asset-based revolving credit facility

By Jennifer Chiou

New York, Jan. 7 – Belden Inc. and Belden Canada Inc. collectively borrowed $200 million under their $400 million multicurrency asset-based revolving credit facility in connection with Belden’s previously announced acquisition of VIA Holdings I, Inc., according to an 8-K filing with the Securities and Exchange Commission.

Of the $200 million, $185 million was drawn by Belden Inc. as of Jan. 2. The U.S. dollar borrowings have a duration of two months and bear interest at two-month Libor plus 175 bps, or 2%. The remaining $15 million was drawn by the Canadian borrower with a duration of one month and an interest rate of one-month Libor plus 175 bps, or 1.9375%.

The company completed the acquisition on Jan. 2. Under the agreement and plan of merger, Belden became the parent company for VIA Holdings’ wholly owned subsidiary, Tripwire, Inc.

JPMorgan Chase Bank, NA is the administrative agent for the facility, which is dated Oct. 3, 2013. Wells Fargo Bank, NA acted as syndication agent with U.S. Bank NA, HSBC Bank USA, NA and Citibank, NA as co-documentation agents.

J.P. Morgan Securities LLC and Wells Fargo Bank are the joint bookrunners and joint lead arrangers for the five-year facility.

Belden is a St. Louis-based designer, manufacturer and seller of signal transmission solutions for industrial automation, data centers, broadcast studios and aerospace markets.

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