Daily News: November 3, 2017

Wells Fargo Agents TeleTech Facility Upsize to $1.2B


TeleTech Holdings amended its revolving line of credit by exercising its accordion feature to increase the total commitments by $300 million to $1.2 billion.

The credit facility will provide TeleTech with increased financial capacity and flexibility to support growth-oriented investments, strategic acquisitions and discretionary capital distributions. There were no other material changes to the credit facility, which expires in February 2021.

“We are pleased with the outcome of our credit facility upsizing efforts,” commented Paul Miller, senior vice president and treasurer of TeleTech. “We not only achieved our objective to increase the commitment amount under the credit facility, but also preserved the existing favorable pricing and terms. The executive leadership team of TeleTech highly values the strong partnership with our relationship banks and their continuing support of the business and strategy.”

Wells Fargo Bank was administrative agent for the transaction. Wells Fargo Securities, Bank of America Merrill Lynch, HSBC Bank USA, BBVA Compass, Bank of the West and KeyBank served as joint lead arrangers. U.S. Bank serves as a documentation agent.

Denver-based TeleTech is a global provider of customer experience, engagement and growth solutions delivered through its proprietary end-to-end Humanify Customer Engagement as a Service offering.