JPMorgan to Sell $1.85 Billion Debt for Belden's Ruckus Acquisition

JPMorgan (JPM) is launching a $1.85 billion leveraged loan to institutional investors to finance Belden's (BDC) acquisition of RUCKUS Networks, with the debt sale set to come to market imminently. The financing is structured as a seven-year senior secured term loan B arranged by JPMorgan, with Belden funding the purchase through a mix of cash and committed debt.

Belden agreed to acquire RUCKUS Networks from Vistance Networks for approximately $1.85 billion, a deal expected to close in the second half of 2026 subject to regulatory approval. The acquisition adds enterprise Wi-Fi and switching to Belden's portfolio, positioning it as a full-stack IT/OT networking provider; RUCKUS brings high-single-digit revenue growth, gross margins above 60%, and adjusted EBITDA margins above 20%.

For credit markets, a $1.85 billion term loan B is a sizeable test of investor appetite for leveraged financings. For Belden, the deal is a debt-funded bet on networking growth that raises leverage in exchange for a higher-margin, faster-growing revenue stream.

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