Belden redeems $600,000 of 7% notes following asset sale offer

By Tali David

Minneapolis, Jan. 25 - Belden Inc. redeemed $600,000 in principal amount of its 7% senior subordinated notes due 2017 as a result of its requirement to complete an offer to redeem the 7% notes and its 9¼% senior subordinated notes due 2019, according to an 8-K filed with the Securities and Exchange Commission.

The indentures for the 7% notes and the 9¼% notes require that the company offer to buy the notes at par in an amount equal to the amount of excess proceeds from asset sales.

As a result, Belden redeemed $600,000 of the 7% notes plus accrued and unpaid interest of $15,050.

Following the Jan. 24 transaction, the outstanding amount is reduced to $349.4 million.

Belden is a St. Louis-based designer, manufacturer and seller of signal transmission solutions for industrial automation, data centers, broadcast studios and aerospace markets.

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