Belden CDT amends, prolongs net share settlement exchange for 4% convertible debentures

By Jennifer Chiou

New York, April 3 - Belden CDT Inc. announced the extension of its offer to exchange an equal amount of new 4% convertible subordinated debentures due 2023 for up to $110 million of the old debentures.

The offer now ends at 5 p.m. ET on April 19, extended from April 2. It began on March 5.

As of April 2, holders of $8.425 million of the old notes had tendered their securities.

The St. Louis-based designer, manufacturer and marketer of high-speed electronic cables, connectivity products and related items said it also augmented the exchange fee holders will receive to $6.25 from $2.50 per $1,000 principal amount.

As already reported, the new debentures will be substantially the same as the old debentures, except that the new securities will have a net share settlement feature requiring Belden to settle all conversions for cash and, in certain circumstances, cash and shares of its common stock.

The new debentures will also provide for an increase in the conversion rate after certain changes in control that occur prior to July 21, 2008.

Global Bondholder Services Corp. is the exchange agent and information agent (call collect 212 430-3774 or 866 807-2200).

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