Correction: Belden CDT starts net share settlement exchange for 4% convertible debentures

The Prospect News Convertibles Daily incorrectly reported the name of the company launching an exchange offer for any and all of its $110 million of 4% convertible subordinated debentures due 2023. A corrected story follows.

Belden CDT Inc., a St. Louis-based designer, manufacturer and marketer of high-speed electronic cables, connectivity products and related items, is offering to exchange an equal amount of new 4% convertible subordinated debentures due 2023 for the old debentures.

Belden said it will pay a cash exchange fee of $2.50 per $1,000 principal amount.

The new debentures will be substantially the same as the old debentures, except that the new securities will have a net share settlement feature requiring Belden to settle all conversions for cash and, in certain circumstances, cash and shares of its common stock.

The new debentures will also provide for an increase in the conversion rate after certain changes in control that occur prior to July 21, 2008.

The offer ends at 5 p.m. ET on April 2.

Global Bondholder Services Corp. is the exchange agent and information agent (call collect 212 430-3774 or 866 807-2200).

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