HICKORY, NC – (COMMERCIAL THREAD) – CommScope Holding Company, Inc. (NASDAQ: COMM) (the “Company”, “we”, “us” or “our”) has announced that its wholly-owned subsidiary, CommScope, Inc. (the “Issuer ”), Priced its offering at $ 1,250 million in aggregate principal amount of 4.75% Senior Secured Notes due 2029 (the“ Notes ”). The Securities are offered to persons reasonably suspected of being qualified institutional buyers in accordance with Rule 144A of the Securities Act of 1933, as amended (the “Securities Act”), and to certain non-US persons outside the United States. under the Regulations. S under the Securities Act.
The Bonds will be guaranteed on a senior basis by the Company and each of the existing and future restricted domestic subsidiaries wholly owned by the Issuer on a senior basis, subject to certain exceptions, and guaranteed on a senior basis. priority by collateral in Fixed Assets Safety and second priority in Short-term Asset Safety under our senior secured credit facilities, and subject to certain permitted limitations and privileges.
The Issuer expects to use the net proceeds of this offering, together with available cash, to (i) redeem and withdraw all of our outstanding 5.500% Senior Secured Notes due 2024 (“2024 Notes”) and ( ii) pay related costs, commissions and fees.
The Securities will not be registered under the Securities Act or any state securities law, and may not be offered or sold in the United States absent registration, except under an exemption. registration requirements of the Securities Act and applicable state securities laws.
This press release does not constitute an offer to sell or the solicitation of an offer to buy the Notes or any other security and does not constitute an offer, solicitation or sale of any security in any jurisdiction in which such an offer, solicitation or sale is illegal. This press release does not constitute a redemption notice regarding the 2024 Bonds or any other security.
CommScope (NASDAQ: COMM) pushes the boundaries of technology to create the world’s most advanced wired and wireless networks. Our global team of employees, innovators and technologists empower clients to anticipate the future and invent what is possible. Find out more at www.commscope.com.
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This press release or any other oral or written statement made by the Company or on our behalf may include forward-looking statements that reflect our current views with respect to future events and financial performance. These statements may discuss objectives, intentions or expectations regarding future plans, trends, events, results of operations or financial condition or otherwise, in each case based on the current beliefs of management, as well. as assumptions made by and information currently available for such management. These forward-looking statements are generally identified by the use of terms and expressions such as “intention”, “objective”, “estimate”, “expect”, “project”, “projections”, “plans”, “potential “,” “Anticipate”, “should”, “could”, “designed for”, “foreseeable future”, “believe”, “think”, “planned”, “prospect”, “target”, “direction” and similar expressions, although not all forward-looking statements contain such terms. This list of indicative terms and expressions is not intended to be exhaustive.
These forward-looking statements are subject to various risks and uncertainties, many of which are beyond our control, including, without limitation, risks relating to the offer and use of the product thereof, including the fact that such transactions may not take place; risks relating to the planned spin-off of the Domestic Networks business, including the uncertainty as to whether such a transaction will be started or completed and the timing and value of that transaction; the risks associated with the potential separation of the Domestic Networks activity; our ability to integrate and fully realize the benefits expected from previous or future disposals, acquisitions or equity investments; sell or discontinue one or more of our product lines; potential difficulties in realigning global manufacturing capability and capabilities between our global manufacturing facilities or those of our contract manufacturers which may affect our ability to meet customer demands for the products; possible future restructuring actions; our reliance on customer investment spending on data and communications systems; concentration of sales among a limited number of customers and distribution partners; technological changes; industry competition and the ability to retain customers through product innovation, introduction and commercialization; risks associated with our sales through distribution partners; changes in the regulatory environment in which we and our customers operate; product quality or performance issues and associated warranty claims; our ability to maintain effective management information technology systems and successfully implement major systems initiatives; cybersecurity incidents, including data breaches, ransomware or computer viruses; the risk that our global manufacturing operations experience production or shipping delays, causing difficulty in meeting customer demands; the risk that in-house production capacity or that of subcontractors is insufficient to meet customer demand or quality standards; the use of open standards; the long-term impact of climate change; changes in the cost and availability of key raw materials, components and commodities and the potential effect on customer prices; risks associated with our dependence on a limited number of key suppliers for certain raw materials and components; the risk that the subcontractors we rely on encounter production, quality, financial or other difficulties; significant indebtedness and debt covenants; our ability to incur additional debt; our ability to generate cash to repay our debt; any future impairment charges on tangible or intangible assets, including goodwill; the variability of tax rates and the ability to collect amounts recognized as deferred tax assets; our ability to attract and retain qualified key employees; labor unrest; obligations under our defined benefit benefit plans requiring plan contributions in excess of current estimates; significant international transactions exposing us to economic, political and other risks, including the impact of exchange rate variability; our ability to comply with government anti-corruption laws and regulations and export and import controls worldwide; our ability to compete in international markets due to export and import controls to which we may be subject; changes in laws and policies in the United States affecting trade, including the risk and uncertainty associated with tariffs or a potential global trade war and potential changes in laws and policies as a result of a new administration in the United States, which may impact our products; cost of protecting or defending intellectual property; the costs and challenges of complying with domestic and foreign environmental laws; the impact of litigation and similar regulatory proceedings in which we are involved or in which we may be involved, including the costs of such litigation; the scope, duration and impact of epidemics and pandemics, such as COVID-19, on our business, including employees, sites, operations, customers, supply chain and the global economy; risks associated with shareholder activism, which could cause us to incur significant expenses, hinder the execution of our business strategy and affect the market value of our securities; any statement of belief and any statement of assumption underlying any of the foregoing; and other factors beyond our control. These and other factors are discussed in more detail in the Company’s Annual Report on Form 10-K for the year ended December 31, 2020 and the Company’s Quarterly Reports on Form 10-Q for the periods ended December 31, 2020. March 2021 and June 30, 2021. and may be updated from time to time in annual reports, quarterly reports, current reports and other documents filed by the Company with the Securities and Exchange Commission.
Although the information contained in this press release represents our best judgment as of the date of this press release based on information currently available and reasonable assumptions, we cannot guarantee that expectations will be met or that any difference will not be material. In view of these uncertainties, we caution you not to place undue reliance on these forward-looking statements, which speak only as of the date of their publication. We assume no obligation or obligation to update this information to reflect developments or information obtained after the date of this press release, except as required by law otherwise.
Source: CommScope Holding Company, Inc.