Belden to offer private placement of notes

ST. LOUIS Private Placement:  Belden Inc. said it plansto offer $200 million of senior notes to repay debt via private placement.

The company said it plans to offer the senior subordinated notes due 2019 and the notes will bear interest at a fixed rate, according to the terms of the offering memorandum.

Belden also said it is asking a lender to reduce the principal on a senior secured credit facility from $350 million to $250 million and the incremental facility would be reduced from $150 million to $100 million. The company said the lender has agreed to the amendments subject to some closing conditions, also found in the private placement memorandum.

The company asked for other amendments to the agreement, including a request that any amount borrowed could be made available in Euros as well as U.S. dollars.

The agreement would also allow each lender to elect to extend the maturity date of its outstanding commitments.

Shares of Belden fell 14 cents to close at $18.66 Tuesday.
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