CommScope calls 4% convertibles

New York, April 2 - CommScope Inc. said it will redeem its 4% convertibles subordinated notes due 2006 on April 26.

The Hickory, N.C., cable manufacturer will pay 101.7143% of par for the securities plus accrued interest up to but excluding the redemption date.

As of March 31 there were $69.6 million principal amount of the convertibles outstanding.

Funding for the redemption will come from CommScope's recent sale of $250 million of 1% convertible senior subordinated debentures due 2024.

CommScope also used proceeds to buy back $102.9 million principal amount of the 4% convertibles in privately negotiated transactions and to repay $25 million of outstanding borrowings on its revolving credit facility.

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