TeleTech Holdings, Inc., a global provider of technology-enabled customer engagement and experience solutions, announced that it has increased the total commitments under its existing revolving credit facility to $500 million by exercising the full $150 million accordion feature permitted under the agreement.

KeyBank Capital Markets acted as the lead arranger and sole book runner for the facility with participation from eight other prestigious banks including Wells Fargo Bank, Bank of America, JPMorgan Chase Bank, BBVA Compass Bank, HSBC Bank USA, Bank of the West, Citibank and The Northern Trust Company. KeyBank is the administrative agent. The facility will mature on September 30, 2015.

“The strong participation we received from our banking partners on the expansion of our credit facility reaffirms the strength of our leadership team, vision and financial position,” said Ken Tuchman, chairman and chief executive officer of TeleTech. “This access to additional committed capital further supports TeleTech’s strategy of maintaining a strong balance sheet while enabling significant financial flexibility to fund both organic growth and share repurchases along with the pursuit of accretive acquisitions.”

As of December 31, 2011, TeleTech had cash and cash equivalents of $156.4 million, $64.0 million of borrowings on its credit facility and total other debt of $2.4 million, resulting in a net positive cash position of $90.0 million.

Previously on abfjournal.com:

KeyBank, Others Provide $350 Million Revolver to TeleTech, Friday, October 08, 2010