CommScope offers senior notes to fund merger

JANUARY 4, 2011 By Stephen Hardy -- After gaining shareholder approval for its proposed merger with an affiliate of The Carlyle Group, CommScope, Inc. (NYSE: CTV) now needs to help pay for it. To that end, the company announced that it will offer $1.5 billion in aggregate principal amount of Senior Notes due 2018 in a private placement.

JANUARY 4, 2011 By Stephen Hardy -- After gaining shareholder approval for its proposed merger with an affiliate of The Carlyle Group, CommScope, Inc. (NYSE: CTV) now needs to help pay for it. To that end, the company announced that it will offer $1.5 billion in aggregate principal amount of Senior Notes due 2018 in a private placement.

CommScope says it will use the proceeds from the senior notes offering to finance in part the cash consideration to be paid in the proposed merger (see "Carlyle Group to take CommScope private"), as well as “certain fees, expenses and other purposes” pertaining to the proposed merger.

The notes are being offered only to qualified institutional buyers under Rule 144A and outside the United States in compliance with Regulation S under the Securities Act.

Visit CommScope

More in Business