Commentary & Deal Flow

Belden Inc (BDC) EUR300m 144A/Reg S sr sub notes due 2031 (10y). NC5. Equity claw: 3y 35%. Ba3/BB- (stable/stable). Via DB (B&D and sole physical books)/JPM/UBS/WFS jt books, Stifel, Benchmark Co, TSI as co-managers. No reg rights. List Dublin. NY law.

Px talk: 3.50% area (+/- 12.5bp).

Did investor call at 11am UKT today. Books closed at 5pm UKT today. Pricing today UK afternoon. UOP: along with cash on hand, to redeem its EUR300m 2.875% sr sub notes due 09/15/25 on 09/15/21 at 100.719. Biz: a leading designer, manufacturer and supplier of connectivity, signal transmission and specialty networking products (cables, connectors and components) for the global network communication and specialty electronic marketplaces. HQ: St Louis, MO.