New Issue: Belden prices $200 million 9¼% 10-year notes at 96.866 to yield 9¾%

By Paul A. Harris

St. Louis, June 24 - Belden Inc. priced a $200 million issue of 9¼% 10-year senior subordinated notes (Ba2/B+/) at 96.866 to yield 9¾% on Wednesday, according to an informed source.

The yield was printed at the wide end of the 9½% to 9¾% price talk.

Wachovia Capital Markets LLC, Banc of America Securities LLC and Citigroup Global Markets Inc. were joint bookrunners.

Co-managers were Comerica Securities, Fifth Third Securities, PNC Capital Markets, Williams Capital Group LP and U.S. Bancorp Investments.

Proceeds will be used to repay existing debt under the company's senior secured credit facility.

Belden is a St. Louis-based signal transmission solutions provider to businesses.

Issuer:	Belden Inc.
Face amount:	$200 million
Proceeds:	$193.732 million
Maturity:	June 15, 2019
Security description:	Senior subordinated notes
Bookrunners:	Wachovia Capital Markets LLC, Banc of America Securities LLC, Citigroup Global Markets Inc.
Co-managers:	Comerica Securities, Fifth Third Securities, PNC Capital Markets, Williams Capital Group LP, U.S. Bancorp Investments
Coupon:	9¼%
Price:	96.866
Yield:	9¾%
Spread:	606 bps
Call features:	Make-whole at Treasuries plus 50 bps until June 15, 2014, then callable at 104.625, 103.083, 101.542, par on and after June 15, 2017
Equity clawback:	Until June 15, 2012 for 35% at 109.25
Change-of-control put:	101%
Trade date:	June 24
Settlement date:	June 29
Ratings:	Moody's: Ba2
	Standard & Poor's: B+
Distribution:	Rule 144A/Regulation S with registration rights
Price talk:	9½% to 9¾%

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