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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(D) OF THE
SECURITIES EXCHANGE ACT OF 1934
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DATE OF REPORT: JANUARY 13, 2003
DATE OF EARLIEST EVENT REPORTED: JANUARY 13, 2003
COMMSCOPE, INC.
(Exact name of registrant as specified in its charter)
DELAWARE 1-12929 36-4135495
(State or other (Commission File Number) (I.R.S. Employer
jurisdiction of Identification
incorporation or Number)
organization)
1100 COMMSCOPE PLACE, SE
P.O. BOX 339
HICKORY, NORTH CAROLINA 28602
(Address of principal executive offices)
REGISTRANT'S TELEPHONE NUMBER, INCLUDING AREA CODE: (828) 324-2200
Item 9. Regulation FD Disclosure.
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On January 13, 2003, the registrant issued a press release relating to
the establishment of a new credit facility.
The full text of the press release is set forth below:
COMMSCOPE ESTABLISHES NEW CREDIT FACILITY
HICKORY, NC -- (JANUARY 13, 2003) CommScope, Inc. (NYSE: CTV) today
announced that it entered into a new $100 million senior secured revolving
credit facility, which closed Friday, January 10, 2003. The facility, which
was not drawn at closing, was established for future liquidity, working
capital needs and other general corporate purposes. CommScope previously
announced that it planned to enter a new credit facility to replace a
terminated one that was scheduled to expire in December 2002. The Company
had approximately $132 million of cash and cash equivalents on its balance
sheet as of September 30, 2002.
The revolving credit arrangement is secured by essentially all assets of
CommScope. Over its 3 1/2 year expected term, the facility can have a
maximum availability of up to $100 million. The Company will have initial
availability of approximately $67 million, none of which was drawn at
closing.
Wachovia served as the agent and arranger for this transaction. Robinson,
Bradshaw & Hinson served as the Company's legal advisors.
CommScope also announced today that it has repaid a $10.4 million
eurodollar loan and acquired its previously-leased Hickory, N.C. corporate
office building for $12.8 million. Both transactions were closed in
December 2002 and were funded from available cash balances.
CommScope is the world's largest manufacturer of broadband coaxial cable
for Hybrid Fiber Coax (HFC) applications and a leading supplier of
high-performance fiber optic and twisted pair cables for LAN, wireless and
other communications applications.
This press release includes forward-looking statements that are based on
information currently available to management, management's beliefs, as
well as on a number of assumptions concerning future events.
Forward-looking statements are not a guarantee of performance and are
subject to a number of uncertainties and other factors, which could cause
the actual results to differ materially from those currently expected. For
a more detailed description of the factors that could cause such a
difference, please see CommScope's filings with the Securities and Exchange
Commission. In providing forward-looking statements, the company does not
intend, and is not undertaking any obligation or duty, to update these
statements as a result of new information, future events or otherwise.
Visit the CommScope Website at: www.commscope.com
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CONTACTS:
PHIL ARMSTRONG BETSY LAMBERT, APR
INVESTOR RELATIONS MEDIA RELATIONS
(828) 323-4848 (828) 323-4873
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on behalf of the
undersigned hereunto duly authorized.
Dated: January 13, 2003
COMMSCOPE, INC.
By: /s/ Frank B. Wyatt, II
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Frank B. Wyatt, II
Senior Vice President, General Counsel
and Secretary