TeleTech Holdings, a global provider of customer experience, engagement and growth solutions, amended its credit facility. The financing arrangement represents a $900 million, five-year, multi-currency revolving credit facility with an accordion feature that permits, under certain conditions, an increase in total commitments up to $1.2 billion.

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

The credit facility will provide TeleTech with increased financial flexibility to support working capital, growth-oriented investments, including strategic acquisitions, along with discretionary capital distributions.

“We are pleased with the outcome of our credit facility refinancing. It complements our strong cash flows and balance sheet in pursuing long-term, value-creating opportunities,” said Regina Paolillo, chief financial and administrative officer of TeleTech. “The terms of the credit facility also achieved our primary objectives of increasing the commitment amount, extending the term, improving the pricing, and structurally expanding our financial flexibility.”

Paul Miller, senior vice president, treasurer and head of investor relations of TeleTech, said: “We appreciate the leadership and execution of our lead banks and overall support from our syndicate of relationship banks. The beneficial terms of the financing demonstrate that our lenders are comfortable with TeleTech’s financial strength and confident in our strategy and growth prospects.”

The amended five-year credit facility will expire in February 2021, replacing TeleTech’s current credit facility which was due to expire in June 2018.