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Ceragon Networks Secures $73.5 Million Credit Facility



            Ceragon Networks Secures $73.5 Million Credit Facility

New facility replaces existing credit agreements

PR Newswire

PARAMUS, New Jersey, March 14, 2013

PARAMUS, New Jersey, March 14, 2013 /PRNewswire/ --

Ceragon Networks Ltd. (NASDAQ: CRNT), the #1 wireless backhaul specialist,
today announced the closing of a three year $73.5 million of secured credit
loans with an additional credit of up to $40.2 million available for bank
guarantees, from a group of lenders led by Bank Hapoalim B.M.. The loans under
the credit facility are expected to be used by Ceragon to manage fluctuating
working capital needs, mainly related to the deployment of its equipment at
tier 1 operators and for general corporate purposes.

The new credit facility will bear floating interest at a base rate plus an
applicable spread of up to 3% per annum (3 month Libor plus 3.3% as of March
14). The new credit facility is secured by a floating charge over all the
Company's assets and a fixed lien over its bank accounts at the lending
institutions.

The credit facility replaces all of the Company's existing credit facilities,
including the loan agreement with Bank Hapoalim B.M. entered into in 2011, and
other short term credit facilities with other banks. At December 31, 2012,
Ceragon had $26.8 million of long term debt, including current maturities, as
well as $17 million drawn down from the previous credit facilities, which
totaled $40 million.

"We are pleased with the successful completion of this credit facility, which
provides several advantages over our prior credit agreements. The new credit
facility consists of amounts larger than the previously available credit line,
is fully-committed for three years, with financial covenants that are less
stringent and bears interest at approximately the same rate," said Aviram
Steinhart, EVP and CFO of Ceragon. "In addition, under the terms of the
agreement, the amounts we repay on the longer term loan taken in relation to
the Nera acquisition, will immediately become available credit for our working
capital needs under the new facility. We believe this will provide the
necessary flexibility to successfully manage the fluctuations in working
capital inherent in our business model."

About Ceragon Networks Ltd.

Ceragon Networks Ltd.(NASDAQ: CRNT) is the #1 wireless backhaul specialist. We
provide innovative, flexible and cost-effective wireless backhaul solutions
that enable mobile operators and other wired/wireless service providers to
deliver 2G/3G, 4G/LTE and other broadband services to their subscribers.
Ceragon's high-capacity, solutions use microwave technology to transfer voice
and data traffic while maximizing bandwidth efficiency, to deliver more
capacity over longer distances under any deployment scenario. Based on our
extensive global experience, Ceragon delivers turnkey solutions that support
service provider profitability at every stage of the network lifecycle
enabling faster time to revenue, cost-effective operation and simple migration
to all-IP networks. As the demand for data pushes the need for ever-increasing
capacity, Ceragon is committed to serve the market with unmatched technology
and innovation, ensuring effective solutions for the evolving needs of the
marketplace. Our solutions are deployed by more than 430 service providers in
over 130 countries.

Ceragon Networks® is a registered trademark of Ceragon Networks Ltd. in the
United States and other countries. CERAGON® is a trademark of Ceragon Networks
Ltd., registered in various countries. Other names mentioned are owned by
their respective holders.

This press release may contain statements concerning Ceragon's future
prospects that are "forward-looking statements" under the Private Securities
Litigation Reform Act of 1995. These statements are based on current
expectations and projections that involve a number of risks and uncertainties.
There can be no assurance that future results will be achieved, and actual
results could differ materially from forecasts and estimates. These are
important factors that could cause actual results to differ materially from
forecasts and estimates. Some of the factors that could significantly impact
the forward-looking statements in this press release include the risk of
significant expenses in connection with potential contingent tax liability
associated with Nera's prior operations or facilities, risks associated with
increased working capital needs, and other risks and uncertainties, which are
discussed in greater detail in Ceragon's Annual Report on Form 20-F and
Ceragon's other filings with the Securities and Exchange Commission.
Forward-looking statements speak only as of the date on which they are made
and Ceragon undertakes no commitment to revise or update any forward-looking
statement in order to reflect events or circumstances after the date any such
statement is made. Ceragon's public filings are available from the Securities
and Exchange Commission's website at http://www.sec.gov or may be obtained on
Ceragon's website at http://www.ceragon.com

Company and Investor Contact:
Yoel Knoll
Ceragon Networks Ltd.
Tel. +1 (201)-853-0228
yoelk@ceragon.com

Media Contact:
Abigail Levy-Gurwitz
Ceragon Networks Ltd.
Tel: +1-(201)-853-0271
abigaill@ceragon.com

Media Contact:
Karen Quatromoni
Rainier Communications
Tel. 508-475-0025 x150
kquatromoni@rainierco.com  

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SOURCE Ceragon Networks Ltd
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