secwatch.observer — SEC 8-K summary
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Issuer:     COMTECH TELECOMMUNICATIONS CORP /DE/ (CMTL)
CIK:        0000023197
Form:       8-K
Filed at:   2022-12-01T23:59:59+00:00
Accession:  0000023197-22-000084
Event type: debt
Sentiment:  neutral
Materiality: 0.50
Item codes: 1.01, 2.03, 5.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Comtech enters $300M credit facility, repays existing debt, extends maturity to 2024
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- New $300M senior secured facility includes $150M revolver, $50M term loan A, and $100M accordion feature.
- Facility matures October 31, 2024; proceeds used to repay prior credit facility and for working capital.
- Amended certificate of designations filed to reflect new credit agreement reference.
- Borrowings bear interest at either ABR plus spread (0.75%-2.25%) or SOFR plus spread (1.75%-3.75%) based on leverage.
- Financial covenants include Interest Expense Coverage Ratio and Leverage Ratio; negative covenants restrict dividends, investments, etc.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/23197/000002319722000084/0000023197-22-000084-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/23197/000002319722000084/cmtl-20221201.htm
  HTML page:      https://secwatch.observer/filing/0000023197-22-000084

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