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Arrangement of Financing for Acquisition of Gilat Satellite Networks by Comtech Telecommunications

Cravath represented Citibank, N.A. as lead arranger in connection with the arrangement of an $800 million senior secured credit facility that will be made available to Comtech Telecommunications Corp. (“Comtech”) in order to finance its acquisition of Gilat Satellite Networks Ltd. (“Gilat”). Comtech (Nasdaq: CMTL) designs, develops, produces and markets innovative products, systems and services for advanced communications solutions. Gilat (Nasdaq: GILT) is a leading global provider of satellite‑based broadband communications.

The Cravath team included partners Joseph D. Zavaglia and Nicholas A. Dorsey and associates Benjamin G. Joseloff and Benjamin J. Barocas on financing matters, and associate Kyle R. Jorstad on tax matters.