CommScope Completes Refinancing to Address 2025, 2026 Debt Maturities

MT Newswires Live12-18

CommScope Holding (COMM) said late Tuesday it secured commitments for $3.15 billion in new first-lien term loans and $1 billion in first-lien notes to address its 2025 and 2026 debt maturities.

The company entered into new agreements with existing first-lien lenders, including funds managed by Apollo and Monarch Alternative Capital. The new first-lien term loan will mature in 2029, while the first-lien notes will mature in 2031.

Proceeds from the new debt will be used to fully repay the company's 2025 notes and its senior secured term loan facility.

CommScope also plans to use proceeds from the $2.1 billion sale of its Outdoor Wireless Networks segment and Distributed Antenna Systems business units to Amphenol (APH), anticipated to close in Q1 2025, to repay its 2026 notes.

The transaction, along with the use of net proceeds from the sale of the business units and the company's projected business performance, is expected to reduce its total debt-to-adjusted EBITDA ratio to below six by the end of 2026, it said.

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