New Issue: Belden prices €300 million 10-year senior subordinated notes at par to yield 3 3/8%

By Paul A. Harris

Portland, Ore., July 14 – Belden Inc. priced a €300 million issue of 10-year senior subordinated notes (Ba3/BB-) at par to yield 3 3/8% on Wednesday, according to market sources.

The yield printed at the tight end of yield talk in the 3½% area.

Joint bookrunner Deutsche Bank will bill and deliver.

The St. Louis-based provider of signal transmission solutions plans to use the proceeds plus cash on hand to fully redeem its 2 7/8% senior subordinated notes due 2025.

Issuer:	Belden Inc.
Amount:	€300 million
Tenor:	2031
Securities:	Senior subordinated notes
Joint bookrunners:	Deutsche Bank (bill and deliver), JPMorgan, UBS, Wells Fargo
Co-managers:	Stifel, Benchmark, Truist
Coupon:	3 3/8%
Price:	Par
Yield:	3 3/8%
Call protection:	Five years
Trade date:	July 14
Settlement date:	July 28
Ratings:	Moody's: Ba3
	S&P: BB-
Distribution:	Rule 144A and Regulation S
Price talk:	3½% area

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