Subsequent Event

9 Months Ended

Sep. 29, 2013

Subsequent Events [Abstract]

Subsequent Event

Note 14: Subsequent Event

Subsequent to September 29, 2013, we entered into a Credit Agreement that provides a new $400 million multi-currency asset-based revolving credit facility. The Credit Agreement is secured by assets of Belden Inc. and certain of its U.S. and foreign subsidiaries, and it matures in 2018. In addition, we borrowed $250.0 million under a new Term Loan Credit Agreement. The borrowings under the new Term Loan Credit Agreement are scheduled to mature in 2020 and require quarterly amortization payments. Interest under the Term Loan Credit Agreement is variable, based upon the three-month LIBOR plus an applicable spread.

The Credit Agreement replaced our existing Senior Secured Facility. There were no outstanding borrowings under the revolver component of our Senior Secured Facility at the time of the refinancing. We utilized the proceeds from the new Term Loan Credit Agreement to repay the amounts outstanding under the Term Loan of our Senior Secured Facility. We expect to incur a loss on these refinancing activities of approximately $2 million in our fiscal fourth quarter for the write-off of certain unamortized debt issuance costs.