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June 03, 2015 4:27 PM ET

Communications Equipment

Company Overview of CommScope Inc.

Company Overview

CommScope Inc. provides connectivity and infrastructure solutions for wireless, business enterprise, and residential broadband networks in the United States, Europe, the Middle East, Africa, the Asia Pacific, Central and Latin America, and Canada. The company operates in three segments: Wireless, Enterprise, and Broadband. The Wireless segment provides macro cell site solutions, including base station antennas, microwave antennas, hybrid fiber-feeder and power cables, coaxial cables, connectors, amplifiers, filters, and backup power solutions; and small cell DAS solutions comprising distributed antenna systems that allow wireless operators to enhance spectral efficiency and cellular coverage...

1100 CommScope Place, SE

Hickory, NC 28602

United States

Founded in 2011

Phone:

828-324-2200

Key Executives for CommScope Inc.

Chief Executive Officer, President and Director
Age: 65
Chief Financial Officer and Executive Vice President
Age: 56
Chief Operating Officer and Executive Vice President
Age: 56
Principal Accounting Officer, Vice President and Corporate Controller
Age: 56
Chief Technology Officer and Senior Vice President
Age: 53
Compensation as of Fiscal Year 2014.

CommScope Inc. Key Developments

CommScope Holding Company, Inc., CommScope, Inc. and CommScope Technologies Finance LLC Prices Notes Offering

On May 28, 2015, CommScope Holding Company, Inc. announced that its wholly owned subsidiary, CommScope, Inc. (the secured notes issuer), priced its offering of $500.0 million in aggregate principal amount of 4.375% senior secured notes due 2020 (the secured notes) and its subsidiary, CommScope Technologies Finance LLC (the unsecured notes Issuer), priced its offering of $1.5 billion in aggregate principal amount of 6.000% senior unsecured notes due 2025 (the unsecured notes). In addition, the company announced the pricing of its $1,250 million in additional borrowings (the incremental term loan facility) under the term loan portion of its senior secured credit facilities (the existing term loan facility). The incremental term loan facility will mature 7.5 years after the funding of the facility, which is expected to occur 30 days after the date hereof. The borrowings under the incremental term loan facility will be made at 99.75% of par and will have an interest rate of LIBOR plus 3.00%, subject to a LIBOR floor of 0.75%. The secured notes issuer expects to use the net proceeds of the offering of the Secured Notes, together with cash on hand, to repay a portion of the principal amount outstanding under the company’s existing term loan facility. The unsecured notes issuer intends to use the proceeds of the offering of the unsecured notes, together with cash on hand and borrowings under the incremental term loan facility, to finance the company’s acquisition (the acquisition) of the Broadband Network Solutions business of TE Connectivity Ltd. The proceeds from the issuance and sale of the unsecured notes and the borrowings under the incremental term loan facility will be held in escrow until the completion of the acquisition.

CommScope, Inc. and CommScope Technologies Finance LLC Intend to Offer $500 Million Senior Secured Notes Due 2020 and $1.5 Billion in Aggregate Principal Amount of Senior Unsecured Notes Due 2025, Respectively

CommScope Inc. and CommScope Technologies Finance LLC, intend to offer $500 million in aggregate principal amount of senior secured notes due 2020 and $1.5 billion in aggregate principal amount of senior unsecured notes due 2025, respectively, subject to market conditions, to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended, and outside the United States in compliance with Regulation S under the Securities Act. CommScope Inc. expects to use the net proceeds of the offering of the secured notes, together with cash on hand, to repay a portion of the principal amount outstanding under the company’s existing term loan facility. CommScope Technologies Finance LLC intends to use the proceeds of the offering of the unsecured notes, together with cash on hand and borrowings under an incremental term loan facility under the company’s senior secured credit facilities, to finance the company’s acquisition of the Broadband Network Solutions business of TE Connectivity Ltd. The proceeds from the issuance and sale of the unsecured notes will be held in escrow until the completion of the BNS acquisition. There can be no assurance that the issuance and sale of the notes will be consummated. The secured notes will be guaranteed on a senior secured basis by CommScope Holding Company Inc. and its domestic restricted subsidiaries, subject to certain exceptions, and secured by security interests that secure indebtedness under the company’s term loan facility. Upon consummation of the BNS acquisition, the unsecured notes will be assumed by CommScope Technologies LLC and guaranteed on a senior basis by CommScope Inc. and its domestic restricted subsidiaries, subject to certain exceptions.

CommScope Holding Company, Inc. and CommScope Inc. Announce Amendment to the Revolving Credit Facility

On May 21, 2015, CommScope Holding Company, Inc. (company), CommScope, Inc. and the other borrowers and guarantors entered into certain amendment No. 2 to the revolving credit and guaranty agreement, dated as of January 14, 2011, governing the company’s revolving credit facility. Amendment No. 2, among other things, extended the maturity date of the revolving credit facility to May 21, 2020, subject to acceleration under certain circumstances, and added revolving commitments in the amount of $150 million. The ability to access the additional revolving commitments is conditioned on the consummation of the company’s acquisition of TE Connectivity Ltd.’s Broadband Network Solutions business unit and other customary closing conditions.

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