Premier Global amends loan, allowing for stock buyback

By Sara Rosenberg

New York, April 19 - Premier Global Services amended its credit facility on Thursday to allow for the repurchase, redemption or acquisition of up to an additional $150 million of common stock during 2007, according to an 8-K filed with the Securities and Exchange Commission.

Bank of America is the administrative agent on the deal.

Also on Thursday, the company announced plans to commence a self-tender offer for up to 11.86 million shares of its common stock.

Borrowings under the amended credit facility will be used to fund the tender.

Premier Global is an Atlanta-based provider of on-demand communication technologies-based business process improvement services.

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