COMMSCOPE HOLDING COMPANY, INC. (NASDAQ:COMM) Files An 8-K Entry into a Material Definitive Agreement
Item1.01
| Entry into a Material Definitive Agreement. |
On May31, 2017, CommScope Holding Company, Inc. (the Company)
entered into that certain Amendment Agreement (the Amendment) to
the Credit Agreement, dated as of January14, 2011 (as amended,
restated, supplemented or otherwise modified from time to time,
the Credit Agreement).
The Amendment refinanced $1,096,250,000 of Tranche 5 term loan
debt due in 2022. The interest rate margin applicable to such
refinanced loans is, at the Companys option, either (1)the base
rate (which is the highest of the then-current Federal Funds rate
plus 0.50%, the prime rate most recently announced by JPMorgan
Chase Bank, N.A., the administrative agent under the Credit
Agreement, and the one-month Eurodollar rate (taking into account
the Eurodollar rate floor, if any, plus 1.00%)) plus a margin of
1.00% or (2)one-, two-, three- or six-month LIBOR or, if
available from all lenders, 12-month LIBOR (selected at the
Companys option) plus a margin of 2.00%. The Tranche 5 term loan
debt previously had a margin of 1.50% for base rate borrowings
and 2.50% for LIBOR borrowings. The Amendment also reduced the
1.75% base rate floor applicable to the Tranche 5 term loan debt
to 1.00% and the 0.75% LIBOR floor to 0.00%.
The Amendment also provided for changes to the Credit Agreement
to reflect the Companys current debt capital structure. All other
terms of the Credit Agreement remain materially unchanged.
This summary of the Amendment does not purport to be complete and
is subject to, and qualified in its entirety by, the full text of
the Amendment, filed as Exhibit 10.1 to this Current Report on
Form 8-K and incorporated herein by reference.
| Item9.01 | Financial Statements and Exhibits. |
| (d) | Exhibits. |
|
Exhibit Number |
Description |
|
| 10.1 |
Amendment Agreement, dated as of May 31, 2017, to the Credit Agreement, dated as of January 11, 2011, among CommScope, Inc., as the Borrower, CommScope Holding Company, Inc., as Holdings, the several banks and other financial institutions or entities from time to time parties thereto as Lenders, JPMorgan Chase Bank, N.A., as Administrative Agent and Collateral Agent and the other agents and arrangers party thereto. |
About COMMSCOPE HOLDING COMPANY, INC. (NASDAQ:COMM)
CommScope Holding Company, Inc. (CommScope) is a provider of infrastructure solutions for the core, access and edge layers of communications networks. The Company operates through two segments: CommScope Connectivity Solutions (CCS) and CommScope Mobility Solutions (CMS). Its portfolio includes wireless and fiber optic solutions. The Company’s solutions are found in the venues and outdoor spaces, including in data centers and buildings of all shapes, sizes and complexities; at wireless cell sites; in telecom central offices and cable head ends; in fiber-to-the-X (FTTX) deployments, and in airports, trains and tunnels. As of December 31, 2016, it served customers in over 100 countries through a network of more than 30 manufacturing and distribution facilities located around the globe. Its customers include global telecommunication operators and enterprise customers, including Fortune 500 enterprises and multi-system operators (MSOs). COMMSCOPE HOLDING COMPANY, INC. (NASDAQ:COMM) Recent Trading Information
COMMSCOPE HOLDING COMPANY, INC. (NASDAQ:COMM) closed its last trading session up +0.34 at 36.99 with 2,060,915 shares trading hands.
