CommScope Holding Company, Inc. announced on December 17, 2024, the closing of a comprehensive refinancing transaction with its first-lien secured lenders. This transaction addresses the company's upcoming 2025 and 2026 debt maturities.
As part of the refinancing, CommScope secured commitments for a new $3.15 billion first-lien term loan maturing in 2029 and $1 billion in first-lien notes maturing in 2031. Proceeds from this new debt will be used to fully repay its senior unsecured notes due 2025 and its existing senior secured term loan facility.
Additionally, expected proceeds from the previously announced sale of the Outdoor Wireless Networks (OWN) segment and Distributed Antenna Systems (DAS) business units to Amphenol Corporation, anticipated in Q1 2025, will be used to fully repay the senior secured notes due 2026 and a portion of the senior secured notes due 2029.
The company anticipates that these actions, combined with projected business performance, will drive its total debt to Adjusted EBITDA ratio below 6.00:1.00 by the end of 2026. This refinancing provides CommScope with greater flexibility to focus on its core businesses and invest in technology and products.
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