Comtech US$400m secured credit facilities for TeleCommunication Systems
Part-funded the acquisition of TeleCommunication Systems, Inc. and related fees
Key terms
- Borrower or issuer
- Comtech Telecommunications
- Date
- 23 Feb 2016
- Type
- Acquisition finance
- Amount
- US$400m
- Maturity
- 2021-02-23
Recorded terms
- Structure
- US$250m senior secured term loan A and US$150m revolving credit facility (US$25m letter of credit sublimit), both five-year
- Lenders and arrangers
- Citibank, N.A. (administrative agent and issuing bank) and a syndicate of lenders
- Country
- United States
Parties
- Comtech Telecommunications borrower or issuer
- Lenders: Citigroup
Similar financings
| Date | Financing | Type | Amount |
|---|---|---|---|
| 2 May 2016 | Mercury Systems US$300m credit facility for the Microsemi carve-out | Acquisition finance | US$300m |
| 4 May 2015 | SAIC US$670m new secured debt for Scitor | Acquisition finance | US$670m |
| 17 Mar 2017 | Teledyne US$100m term loan for the e2v acquisition | Acquisition finance | US$100m |
| 25 Apr 2018 | KBR US$2.15bn senior secured credit facilities for the SGT acquisition | Acquisition finance | US$2.15bn |
| 31 Oct 2018 | SAIC US$2.1bn term loans for the Engility merger | Acquisition finance | US$2.12bn |
More from Comtech Telecommunications
| Date | Financing | Type | Amount |
|---|---|---|---|
| 17 Jun 2024 | Comtech US$222m term loan and ABL from TCW and Wingspire | Bank facility | US$222m |
| 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$300m |
Sources
- Comtech Telecommunications Form 8-K (credit agreement) sec.gov · 29 Feb 2016
About this record
Record DEF-2016-0011, taken from an issuer, lender or government announcement. Confirmed against the primary documents listed. Amounts are as announced; US$ 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
Acquisition debt is committed before signing, often as a bridge, and refinanced with bonds or term loans once the deal closes.
