TTEC Holdings, a customer experience software firm, amended its credit facility by exercising its accordion feature to increase the total commitments by $300 million to $1.2 billion. Incremental commitments were provided by a syndicate of banks arranged by Wells Fargo, including Bank of America, U.S. Bank, PNC Bank, Bank of the West and Northern Trust.

The credit facility will provide TTEC with increased financial capacity and flexibility to support growth-oriented investments, strategic acquisitions and discretionary capital distributions. The $300 million increase in the credit facility is in the form of a term loan, which will become due on Feb. 14, 2024, contemporaneously with the expiration of the $900 million revolving line of credit.

“We are pleased with the outcome of our credit facility upsizing initiative,” Paul Miller, senior vice president and treasurer of TTEC, said. “We achieved our objective to increase the commitment amount while maintaining favorable terms and conditions. TTEC’s executive leadership highly values the strong partnership with our relationship banks and their continuing support of our business and strategy.”