Belden prices $1.85 billion term loan to fund RUCKUS acquisition

Belden Inc. (NYSE: BDC) announced it has priced a $1.85 billion senior secured term loan B facility due 2033 to finance its pending acquisition of RUCKUS Networks.

The St. Louis-based networking solutions supplier said the loans will be issued at 99.75% of face value, representing a 0.25% original issue discount. The facility carries an interest rate of SOFR plus 2.25%.

Closing of the term loan is expected to occur concurrent with completion of the RUCKUS acquisition, subject to customary closing conditions. Belden plans to use proceeds from the facility along with existing cash to fund the previously announced RUCKUS purchase and related fees.

The company had not disclosed the purchase price for RUCKUS Networks in the announcement. RUCKUS provides wireless networking infrastructure and cloud management solutions.

Belden describes itself as a supplier of specialty networking solutions with manufacturing operations in North America, Europe, Asia and Africa. The company has operated for more than 120 years.

The information was disclosed in a company press release.

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