CommScope (COMM): $700 Million Senior Notes Offering Priced

By Amit Chowdhry ● June 23, 2020
  • Commscope Holding Company Inc (NASDAQ: COMM) announced that the company priced its offering of $700 million in aggregate principal amount of 7.125% senior unsecured notes due 2028

Commscope Holding Company Inc (NASDAQ: COMM) announced that its wholly-owned subsidiary CommScope, Inc. priced its offering of $700 million in aggregate principal amount of 7.125% senior unsecured notes due 2028.

What does CommScope do? It is a company that pushes the boundaries of technology to create the world’s most advanced wired and wireless networks.

The notes will be guaranteed on a senior unsecured basis by each of CommScope’s existing and future wholly-owned domestic restricted subsidiaries, subject to certain exceptions. And CommScope currently intends to use the net proceeds of the offering of the notes, together with cash on hand to redeem and retire the $50 million outstanding aggregate principal amount of its 5.00% senior notes due 2021, redeem and retire the $650 million outstanding aggregate principal amount of its 5.50% senior notes due 2024, and pay fees and expenses related to the foregoing.

There can be no assurance that the issuance and sale of the notes or the refinancing transactions will be consummated. And the offering of the notes is expected to close on July 1, 2020, subject to customary closing conditions.

The notes will not be registered under the Securities Act — or any state securities laws — and may not be offered or sold in the US absent registration, except pursuant to an exemption from the registration requirements of the Securities Act and applicable state securities laws.