BELDEN INC. 10-Q

Item 3: Quantitative and Qualitative Disclosures about Market Risks The following table provides information about our financial instruments that are sensitive to changes in interest rates. The table presents principal amounts by expected maturity dates and fair values as of June 28, 2020. Principal Amount by Expected Maturity Fair 2020 Thereafter Total Value (In thousands, except interest rates) €350.0 million fixed-rate senior subordinated notes due 2028 $ — $ 394,660 $ 394,660 $ 384,174 Average interest rate 3.875 % €450.0 million fixed-rate senior subordinated notes due 2027 $ — $ 507,420 $ 507,420 $ 487,402 Average interest rate 3.375 % €200.0 million fixed-rate senior subordinated notes due 2026 $ — $ 225,520 $ 225,520 $ 224,636 Average interest rate 4.125 % €300.0 million fixed-rate senior subordinated notes due 2025 $ — $ 338,280 $ 338,280 $ 318,007 Average interest rate 2.875 % Total $ 1,465,880 $ 1,414,219 Item 7A of our 2019 Annual Report on Form 10-K provides information as to the practices and instruments that we use to manage market risks. There were no material changes in our exposure to market risks since December 31, 2019, and our debt, excluding the Revolver, is fixed at an average interest rate of 3.5% with no maturities until 2025 to 2028. We have no maintenance covenants on our outstanding debt. Our only covenant is an incurrence covenant, which limits our ability to take on additional debt if EBITDA drops below a certain threshold.