Gilat US$100m secured credit facility for the Stellar Blu acquisition
Part of the cash consideration for Stellar Blu Solutions and potential earn-out payments
Key terms
- Borrower or issuer
- Gilat Satellite Networks
- Date
- 6 Jan 2025
- Type
- Acquisition finance
- Amount
- US$100m
- Pricing
- SOFR + 2.75% to 3.50%
- Maturity
- 2028-01-06
Recorded terms
- Structure
- Senior secured credit agreement with Wavestream (Gilat) as borrower, dated 13 October 2024 and amended at closing; US$60m three-year loan drawn to fund the Stellar Blu closing payment, with US$40m available for earn-out payments
- Lenders and arrangers
- HSBC Bank USA, N.A. and Bank Hapoalim B.M., lenders; HSBC Bank USA, N.A., administrative agent, sole lead arranger and sole bookrunner
- Country
- Israel
Parties
- Gilat Satellite Networks borrower or issuer
- Lenders: HSBC, Bank Hapoalim
Similar financings
| Date | Financing | Type | Amount |
|---|---|---|---|
| 19 Jun 2024 | SES acquisition financing for Intelsat | Acquisition finance | €3bn |
| 25 Mar 2024 | Iridium US$125m incremental term loan for the Satelles acquisition | Acquisition finance | US$125m |
| 30 Dec 2025 | Indra acquisition financing for Hispasat | Acquisition finance | €700m |
| 28 Jun 2026 | Rocket Lab US$3.6bn bridge commitment for the Iridium acquisition | Acquisition finance | US$3.6bn |
| 2 Jul 2026 | Iridium US$183m seller term loan for the Aireon buyout | Acquisition finance | US$183.4m |
M&A and investment involving Gilat Satellite Networks
| Date | Deal | Type | Value |
|---|---|---|---|
| 15 Jun 2026 | Gilat acquisition of Comtech's Satellite & Space Communications segment | M&A Announced | US$157.5m |
| 6 Jan 2025 | Gilat acquisition of Stellar Blu Solutions | M&A | US$98m |
| 16 Nov 2023 | Gilat acquisition of DataPath | M&A | Not disclosed |
Sources
About this record
Record ORB-2025-0032, taken from an issuer, lender or government announcement. Confirmed against the primary documents listed. Amounts are as announced; US$ 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.
