COMMSCOPE HOLDING COMPANY, INC. (NASDAQ:COMM) Files An 8-K Regulation FD DisclosureItem 7.01
On March 3, 2017, CommScope, Inc. (the “Issuer”), a wholly owned subsidiary of CommScope Holding Company, Inc. (the “Company”), issued a notice of conditional full redemption (the “Notice”) with respect to its 4.375% senior secured notes due 2020 (the “Secured Notes”). to the Notice, the Issuer gave holders of the Secured Notes notice that, subject to the satisfaction of specific conditions precedent stated therein, it will redeem all of the outstanding Secured Notes on March 13, 2017 (the “Redemption Date”). On the Redemption Date, the Secured Notes, which have an outstanding principal balance of $500 million, will be redeemed in full at a redemption price equal to (a) the present value at the Redemption Date of (i) 102.188% of the outstanding principal amount plus (ii) all required interest payments due on the Secured Notes through June 15, 2017 (excluding accrued but unpaid interest to the Redemption Date) plus (b) the accrued and unpaid interest to (but not including) the Redemption Date.
As permitted by the terms of the Secured Notes, the Notice and the redemption of the Secured Notes are conditioned upon the satisfaction of certain conditions precedent, including, without limitation, the consummation by CommScope Technologies LLC, a wholly owned subsidiary of the Company (as and when determined by CommScope Technologies LLC in its sole and absolute discretion), of the issuance of $750 million in aggregate principal amount of 5.000% senior unsecured notes due 2027 (the “Notes”). The Issuer will use a portion of the proceeds from the issuance of the Notes, together with cash on hand, to redeem the Secured Notes. The Issuer will be entitled to delay, and may delay, the redemption of the Secured Notes until such time as such conditions precedent are satisfied.
This Current Report does not constitute an offer to sell or the solicitation of an offer to buy the Notes or any other securities and shall not constitute an offer, solicitation or sale of any security in any jurisdiction in which such offering, solicitation or sale would be unlawful. This Current Report does not constitute a notice of redemption with respect to the Secured Notes. The Notes will not be registered under the Securities Act, or any state securities laws, and may not be offered or sold in the United States absent registration, except to an exemption from the registration requirements of the Securities Act and applicable state securities laws.
The foregoing information is being furnished and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act or the Exchange Act, except as expressly set forth by specific reference in such filing.
About COMMSCOPE HOLDING COMPANY, INC. (NASDAQ:COMM)
CommScope Holding Company, Inc. is provider of infrastructure solutions for wireless, business enterprise and residential broadband networks. The Company operates through four segments: Wireless, Enterprise, Broadband and Broadband Network Solutions (BNS). Its Wireless segment provides merchant RF wireless network connectivity solutions and cell distributed antenna systems (DAS) solutions to enable carriers’ second generation (2G), third generation (3G) and fourth generation (4G) networks. Its Enterprise segment provides enterprise connectivity solutions for data centers and commercial buildings, comprises voice, video, data and converged solutions. Its Broadband segment provides cable and communications products that support the multichannel video, voice and high-speed data services provided by multi-system operators (MSOs). The BNS segment provides fiber-optic and copper connectivity solutions for telecom and enterprise markets, as well as DAS solutions for the wireless market. COMMSCOPE HOLDING COMPANY, INC. (NASDAQ:COMM) Recent Trading Information
COMMSCOPE HOLDING COMPANY, INC. (NASDAQ:COMM) closed its last trading session up +0.05 at 38.96 with 1,979,367 shares trading hands.