CommScope plans to redeem $525 million of 8¼% notes due 2019

By Jennifer Chiou

New York, Aug. 2 - CommScope Holding Co., Inc. announced that it plans to use proceeds from its upcoming initial public offering of stock to redeem about $525 million of its $1.5 billion of outstanding 8¼% notes due 2019.

According to an amended S-1 filing with the Securities and Exchange Commission, the company intends to use a like amount of net proceeds from the offering to finance the redemption. In August, the company said that the IPO would be for up to $750 million.

CommScope said that on or prior to Jan. 15, 2015, it may redeem up to 35% of the aggregate principal amount of the notes at a redemption price of 108.25% plus accrued interest, or at par plus accrued interest and a make-whole premium.

The provider of infrastructure services for communication networks is based in Hickory, N.C.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.