CommScope has completed the sale of its Outdoor Wireless Networks (OWN) segment and Distributed Antenna Systems (DAS) business to Amphenol Corporation. The decision follows a definitive agreement signed on July 18, 2024.

The sale proceeds will address transaction fees and expenses, repay outstanding amounts on the company’s asset-backed revolving credit facility, and reduce debt on its Senior Secured Notes due in 2026 and 2029. Subsequently, the committed amount under the credit facility will be lowered to $750 million, in line with borrowing base limitations. As a result, the applicable margin on CommScope’s Senior Secured Term Loan is expected to decrease by 25 basis points.

Further insights regarding how this divestiture will impact the company’s fiscal outlook for 2025 will be shared during the next quarterly earnings call.