by Stephen Carter
Jan 13, 2026 11:44 AM ET
Belden Inc (BDC) EUR450m 144A/Reg S sr sub notes due 02/01/33 (7y). NC3 (02/01/29) (MWC B+50bp), then at 102.125 02/01/29, 101.0625 02/01/30, 100 02/01/31. Equity claw: 3y 40% at 104.25. Ba3/BB- (stable/stable). Via JPM (B&D)/WFS jt glocos and physical books/GS jt books, Citi, HSBC, TSI, USB as co-managers. No reg rights. List Dublin. NY law. CoC at 101. Pays Feb 01 and Aug 01, starting 08/01/26. Denoms: 100kx1k. Settles 01/28 (T+11). Reg S ISIN: XS3274803082. IPT: mid 4s. Price talk: 4.25%-4.50%. Price talk: 4.25%-4.50%.
Priced: 4.25% at 100. +163bp vs DBR 2.30% 02/15/33.
Roadshow (small group meetings) 01/12-13 (investor call at 1pm UKT 01/12). Books closed at 2pm 01/13. UOP: along with S8m cash on hand, to redeem its EUR450m 3.375% sr sub notes due 07/15/27 (callable at 100). Biz: a leading designer, manufacturer and supplier of connectivity, signal transmission and specialty networking products (cables, connectors, components and software) for the global network communication and specialty electronic marketplaces. HQ: St Louis, MO.
Netroadshow direct link: https://www.netroadshow.com/events/login/LE9zwo3gn5LJesebw4BxH2AEdtIb3mdS2I5.