By Paul A. Harris
Portland, Ore., June 24 – Belden Inc. priced a $200 million issue of 10-year senior subordinated notes (Ba2/B+/) at par to yield 5¼% on Tuesday, according to a syndicate source.
The yield printed at the tight end of the 5¼% to 5½% yield talk.
Wells Fargo Securities LLC was the left bookrunner. Deutsche Bank Securities Inc., Goldman Sachs & Co. and J.P. Morgan Securities LLC were the joint bookrunners.
Proceeds will be used for general corporate purposes.
Belden is a St. Louis-based designer, manufacturer and seller of signal transmission solutions for industrial automation, data centers, broadcast studios and aerospace markets.
| Issuer: | Belden Inc.
|
| Amount: | $200 million
|
| Maturity: | July 15, 2024
|
| Securities: | Senior subordinated notes
|
| Left bookrunner: | Wells Fargo Securities LLC
|
| Joint bookrunners: | Deutsche Bank Securities Inc., Goldman Sachs & Co., J.P. Morgan Securities LLC
|
| Co-manager: | HSBC Securities (USA) Inc.
|
| Coupon: | 5¼%
|
| Price: | Par
|
| Yield: | 5¼%
|
| Spread: | 266 bps
|
| First call: | July 15, 2019 at 102.625
|
| Trade date: | June 24
|
| Settlement date: | June 27
|
| Ratings: | Moody's: Ba2
|
| Standard & Poor's: B+
|
| Distribution: | Rule 144A and Regulation S for life
|
| Price talk: | 5¼% to 5½%
|
| Marketing: | Quick to market
|
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