New Issue: Belden sells $350 million 10-year notes at par to yield 7%

By Michelle Anderson

Rochester, N.H., March 13 - Belden CDT Inc. priced a $350 million issue of 10-year senior subordinated notes (Ba2/BB-) at par to yield 7% on Tuesday, according to market sources.

The deal priced at the tight end of the 7% to 7¼% price talk.

Wachovia Securities ran the books for the Rule 144A and Regulation S with registration rights notes. UBS Investment Bank was the co manager.

Belden will use the proceeds to fund the acquisition of LTK Wiring Co., Ltd. and for general corporate purposes.

Belden is a St. Louis-based designer, manufacturer and marketer of high-speed electronic cables, connectivity products and related items.

Issuer:	Belden CDT Inc.
Amount:	$350 million
Maturity:	March 15, 2017
Security description:	Senior subordinated notes
Bookrunner:	Wachovia Securities
Co-manager:	UBS Investment Bank
Coupon:	7%
Price:	Par
Yield:	7%
Spread:	249 basis points
Call features:	Make-whole call at Treasuries plus 50 bps prior to March 15, 2012, after that at 103.50, 102.333, 101.167%, par on and after March 15, 2015 and thereafter at par
Equity clawback:	Up to 35% at 107.0 prior to March 15, 2010
Trade date:	March 13
Settlement date:	March 16
Ratings:	Moody's: Ba2
	Standard & Poor's: BB-
Distribution:	Rule 144A and Regulation S with registration rights
Price talk:	7% to 7¼%

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