Belden To Privately Place 300 Mln Euro Senior Subordinated Notes

(RTTNews) - Belden Inc. (BDC), a global supplier of specialty networking solutions, on Wednesday announced its plan to offer 300 million euros worth senior subordinated notes due 2031 in a private offering.

The St Louis-headquartered company intends to use the net proceeds from the issue to fund the redemption in full of its 2.875% senior subordinated notes due 2025.

Initial purchasers may engage in stabilizing transactions with a view to supporting the market price of the Notes at a level higher than that which might otherwise prevail and any such stabilization action must be conducted in accordance with all applicable laws and rules.

On July 13, shares of Belden closed at $48.97, down $1.24 or 2.47 percent from its previous close.