West Corporation announced it received lender commitments to provide a $250 million term loan due 2021 under the existing amended and restated credit agreement.

According to a related 8-K filing, Wells Fargo served as administrative agent.

The new term loan will have a six-year term and will bear interest at a rate of LIBOR + 3.50% with a 0.75% LIBOR floor (base rate loans to be at a rate of base rate + 2.50% with a 1.75% base rate floor). Proceeds of the new term loan, together with cash on hand, will be used to retire in full the $250 million remaining outstanding on the term loan due July 2016.

Completion of the refinancing is subject to customary closing conditions.

West Corporation is a global provider of communication and network infrastructure solutions.