CommScope Completes Divestiture of Outdoor Wireless Networks and Distributed Antenna Systems Businesses to Amphenol Corporation
CommScope (NASDAQ:COMM), a global leader in network connectivity, announced today the closing of the transaction to sell its Outdoor Wireless Networks (OWN) segment and Distributed Antenna Systems (DAS) business to Amphenol Corporation (NYSE:APH).
The Company previously announced the signing of a definitive agreement for the transaction on July 18, 2024.
The proceeds from the sale will be used to pay fees and expenses associated with the transaction and to repay all outstanding amounts under the Company's asset-backed revolving credit facility, to repay in part the Company's 4.750% Senior Secured Notes due 2029 and to repay in full the Company's 6.000% Senior Secured Notes due 2026. In connection with the repayment of all outstanding amounts under the Company's asset-backed revolving credit facility, the committed amount thereunder will be reduced to $750.0 million, subject to borrowing base limitations. Following these actions it is expected that applicable margin on the Company's Senior Secured Term Loan will be reduced by 25 basis points.
The Company will provide additional information about the transaction's impact on its fiscal year 2025 outlook during the next quarterly earnings call.
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About CommScope
CommScope (NASDAQ:COMM) is pushing the boundaries of technology to create the world's most advanced wired and wireless networks. Our global team of employees, innovators and technologists empower customers to anticipate what's next and invent what's possible. Discover more at www.commscope.com.
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This press release includes forward-looking statements that are based on information currently available to management, management's beliefs, as well as on a number of assumptions concerning future events. Forward-looking statements are not a guarantee of performance and are subject to a number of uncertainties and other factors, which could cause the actual results to differ materially from those currently expected. In providing forward-looking statements, the company does not intend, and is not undertaking any obligation or duty, to update these statements as a result of new information, future events or otherwise.
Source: CommScope
View source version on businesswire.com: https://www.businesswire.com/news/home/20250203737791/en/
News Media Contact
Luke Hamer, CommScope
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Financial Contact
Massimo Disabato, CommScope
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