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Syndicate of Lenders Closes $900MM Credit Facility for TTEC Holdings

March 07, 2019, 08:10 AM
Filed Under: Technology

TTEC Holdings, Inc., a leading global customer experience technology and services company focused on the design, implementation and delivery of transformative solutions for many of the world's most iconic and disruptive brands, amended and extended the terms of its credit facility, securing a $900 million, multi-currency revolving credit facility through 2024 on favorable terms. The amended credit facility has an accordion feature that permits, under certain conditions, an increase in total commitments up to $1.2 billion.

"We are pleased with the outcome of our credit facility refinancing and its purpose to complement our strong cash flows and balance sheet in pursuing long-term, value-creating opportunities," commented Regina Paolillo, chief financial and administrative officer of TTEC. "The credit facility will provide TTEC with financial flexibility to support working capital and growth-oriented investments, including strategic acquisitions, along with discretionary capital distributions."

Wells Fargo Securities, LLC, Bank of America, Bank of the West, HSBC Bank USA, and U.S. Bank served as joint lead arrangers for the credit facility, and KeyBank and PNC Bank served as documentation agents. Paul Miller, senior vice president, treasurer and investor relations officer of TTEC, stated: "We appreciate and value the bank syndicate's partnership and support of TTEC. The beneficial terms of the financing demonstrate the lenders' comfort with TTEC's strong financial profile and confidence in our leadership and strategy."

The amended five-year credit facility will expire in February 2024, replacing TTEC's prior credit facility which was reduced from $1.2 billion and was due to expire in February 2021. 

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