CommScope closes $2.1B sale of OWN and DAS businesses to Amphenol; repays debt

Vistance Networks, Inc.

Cash consideration of ~$2.1B; proceeds used to repay $1.5B of 6.000% Senior Secured Notes due 2026 and $299M of 4.750% Senior Secured Notes due 2029.
ABL facility repaid in full; committed amount reduced to $750M; 25 bps margin reduction expected on Senior Secured Term Loan.
Pro forma balance sheet shows cash of $695.6M and long-term debt reduced to $6.175B as of September 30, 2024.
Pro forma FY2023 net sales from continuing operations would have been $4.565B vs. reported $5.789B, reflecting the divestiture.
Transition services agreement with Amphenol provides up to 36 months of post-closing services; estimated TSA income of $35M for FY2023.

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