Comtech US$222m term loan and ABL from TCW and Wingspire
Repaid the Citibank-led credit facility
Key terms
- Borrower or issuer
- Comtech Telecommunications
- Date
- 17 Jun 2024
- Type
- Bank facility
- Amount
- US$222m
- Pricing
- Term loan: Term SOFR + 8.50% to 10.00%; ABL: Term SOFR + 4.75% to 5.25%
Recorded terms
- Structure
- US$162m senior secured term loan and US$60m asset-based revolving facility (US$25m drawn at closing)
- Lenders and arrangers
- TCW Asset Management Company LLC (agent); Wingspire Capital LLC (revolving agent)
- Country
- United States
Parties
- Comtech Telecommunications borrower or issuer
- Private credit: TCW, Wingspire Capital
Similar financings
| Date | Financing | Type | Amount |
|---|---|---|---|
| 10 Jun 2024 | Teledyne US$1.2bn revolving credit facility (2024) | Bank facility | US$1.2bn |
| 30 May 2024 | V2X US$907m first lien term loan refinancing (2024) | Bank facility | US$906.6m |
| 3 Apr 2024 | Oshkosh US$450m revolver upsize to US$1.55bn | Bank facility | US$450m |
| 17 Sep 2024 | Huntington Ingalls Industries US$1.7bn revolving credit facility (2024) | Bank facility | US$1.7bn |
| 4 Oct 2024 | AeroVironment US$200m revolving credit facility (2024) | Bank facility | US$200m |
More from Comtech Telecommunications
| Date | Financing | Type | Amount |
|---|---|---|---|
| 30 Nov 2022 | Comtech US$200m second amended and restated credit facility | Bank facility | US$200m |
| 31 Oct 2018 | Comtech US$300m amended and restated revolving credit facility | Bank facility | US$300m |
| 23 Feb 2016 | Comtech US$400m secured credit facilities for TeleCommunication Systems | Acquisition finance | US$400m |
Sources
- Comtech Telecommunications Form 8-K (credit agreement with TCW and Wingspire) sec.gov · 18 Jun 2024
About this record
Record DEF-2024-0029, taken from an issuer, lender or government announcement. Confirmed against the primary documents listed. Amounts are as announced; US$ equivalents use approximate annual average exchange rates. Spotted an error or have a document we have missed? Send a correction, and changes are logged on Updates and corrections.
Read the structure
A revolving or term facility is a relationship loan from a bank group, priced at a margin over a reference rate, with financial covenants and an agent.
