CommScope offers $550 million seven-year PIK toggle notes

By Paul A. Harris

Portland, Ore., May 21 - CommScope Holding Co., Inc. was scheduled to hold a Tuesday morning investor call to discuss its $550 million offering of seven-year senior PIK toggle notes (expected ratings Caa1/B-), according to a market source.

The deal is expected to price on Wednesday or Thursday.

J.P. Morgan Securities LLC, BofA Merrill Lynch, Deutsche Bank Securities Inc. and Goldman Sachs & Co. are the joint bookrunners.

The Rule 144A and Regulation S for life notes come with three years of call protection.

Proceeds will be used to fund a shareholder dividend and for general corporate purposes, including potential acquisitions.

CommScope is a Hickory, N.C.-based provider of infrastructure services for communication networks.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.