Belden Inc. (NYSE: BDC), a global leader in signal transmission solutions for mission critical applications, today announced the final results of its previously announced offer to purchase any and all of its outstanding 7.0% Senior Subordinated Notes due 2017 (CUSIP No. 077454-AC-0) (the “2017 Notes”) and 9.25% Senior Subordinated Notes due 2019 (CUSIP No. 077454-AE-6) (the “2019 Notes” and together with the 2017 Notes, the “Notes”) and consent solicitation from holders of the Notes (the “Tender Offer and Consent Solicitation”), which commenced on August 13, 2012, and is described in the Offer to Purchase and Consent Solicitation Statement dated August 13, 2012 (the “Offer to Purchase”). The Tender Offer and Consent Solicitation expired at 11:59 p.m. ET on September 10, 2012 (the “Expiration Time”).
On August 27, 2012 (the “Initial Settlement Date), Belden announced that it had received tenders and consents from holders of $291,916,000 aggregate principal amount, representing approximately 83.55% of the aggregate principal outstanding, of the 2017 Notes and $182,950,000 aggregate principal amount, representing approximately 91.48% of the aggregate principal outstanding, of the 2019 Notes, as of 5:00 p.m., ET, on August 24, 2012, the consent expiration date.
In addition, having received the requisite consents from holders of the Notes, Belden executed a supplemental indenture with respect to each of the indentures governing the Notes (the “Supplemental Indentures”), which eliminate substantially all of the restrictive covenants and certain events of default in the respective indentures governing the Notes. The Supplemental Indentures became effective as of the Initial Settlement Date, upon the acceptance of and payment for the majority in aggregate principal amount of the Notes by Belden pursuant to the terms of the Offer to Purchase.
No additional Notes were tendered following the Initial Settlement Date and prior to the Expiration Time.
The remaining Notes that were not tendered and purchased pursuant to the tender offer are outstanding and their holders are subject to the terms of the respective indentures governing the Notes, as amended by the Supplemental Indentures. Belden also issued a notice of redemption with respect to all of its outstanding 2017 Notes not tendered in the tender offer. The redemption price for such 2017 Notes will be equal to 103.500% of the principal amount thereof, plus any accrued and unpaid interest to the redemption date. The redemption of the remaining 2017 Notes is scheduled to occur on September 26, 2012.