CommScope Completes $100 Million Convertible Debenture Sale and $175.5 Million Convertible Debenture Redemption

HICKORY, N.C.--(BUSINESS WIRE)--Mar. 20, 2009-- CommScope, Inc. (NYSE: CTV) has completed the sale of $100.0 million aggregate principal amount of new 3.50% Convertible Senior Subordinated Debentures due 2024 (the “New Debentures”) and consummated the redemption of $175.5 million aggregate principal amount of its existing 1.00% Convertible Senior Subordinated Debentures due 2024 (the “Existing Debentures”), constituting all of the outstanding Existing Debentures. The net proceeds of approximately $98 million from the sale of the New Debentures, along with borrowings under the company’s senior secured revolving credit facility, were used to redeem the Existing Debentures.

CommScope announced on March 13, 2009 that it had entered into separate purchase agreements to sell $83.25 million aggregate principal amount of New Debentures. On March 16, 2009 the company entered into additional purchase agreements to sell an additional $16.75 million aggregate principal amount of New Debentures, resulting in the issuance of a total of $100.0 million aggregate principal amount of New Debentures.

The New Debentures bear interest at the rate of 3.50% per year and will mature on March 15, 2024. The company is entitled to redeem the New Debentures on or after March 20, 2012 and holders may require the company to repurchase all or a portion of their New Debentures on March 20, 2012, March 15, 2014 and March 15, 2019.

The New Debentures are immediately convertible by holders into shares of CommScope’s common stock at a rate of 99.354 shares per $1,000 principal amount of New Debentures, or an initial conversion price of approximately $10.065 per share. The company may terminate the holders’ right to convert in certain circumstances if the closing price of a share of the company’s common stock exceeds 150% of the conversion price then in effect for a minimum period. Holders who convert before March 20, 2012 following the issuance of a notice of termination of conversion rights will receive, in addition to shares of common stock issued at the conversion price, an interest make-whole payment, in cash and/or shares of common stock at the company’s option, equal to the present value of the unpaid interest through March 20, 2012. If a holder elects to convert its New Debentures in connection with certain fundamental corporate changes before March 20, 2012, the conversion rate for such New Debentures may be increased.

The New Debentures and the underlying shares of common stock issuable upon conversion of the New Debentures have not been registered under the Securities Act of 1933, as amended (the “Securities Act”), or the securities laws of any state and, unless so registered, may not be offered or sold in the United States except pursuant to an applicable exemption from the registration requirements of the Securities Act and applicable state securities laws.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy any of these securities.

About CommScope

CommScope, Inc. (NYSE: CTV – www.commscope.com) is a world leader in infrastructure solutions for communication networks. Through its Andrew® brand, it is a global leader in radio frequency subsystem solutions for wireless networks. Through its SYSTIMAX® and Uniprise® brands, CommScope is the global leader in structured cabling systems for business enterprise applications. It is also the premier manufacturer of coaxial cable for broadband cable television networks and one of the leading North American providers of environmentally secure cabinets for DSL and FTTN applications. Backed by strong research and development, CommScope combines technical expertise and proprietary technology with global manufacturing capability to provide customers with infrastructure solutions for evolving global communications networks in more than 130 countries around the world.

Forward-Looking Statements

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.

Source: CommScope, Inc.

Investor Contact:
Phil Armstrong, CommScope
+1 828-323-4848

or

News Media Contact:
Rick Aspan, CommScope
+1 708-236-6568 or publicrelations@commscope.com