Belden selling 200M euros in notes due 2023
ST. LOUIS (AP) — Communications equipment company Belden Inc. said Sunday that it plans to sell 200 million euros, or $260 million, of senior notes due in 2023 to eligible buyers in a private offering.
Belden intends to use proceeds from the sale to repay debt and for general corporate purposes.
The company bought privately held broadband company PPC in December for $515.7 million, an acquisition which Belden said will add to its profit this year.
Shares of St. Louis-based Belden closed at $52.24 on Friday.