TeleTech Holdings ups revolving credit facility to $500 million

By Sara Rosenberg

New York, April 2 - TeleTech Holdings Inc. increased its revolving credit facility due Sept. 30, 2015 to $500 million from $350 million through the existing accordion feature, according to a news release.

KeyBank Capital Markets Inc. acted as the lead arranger and bookrunner on the deal.

The upsizing is expected to provide financial flexibility to fund growth and share repurchases, as well as accretive acquisitions, the release said.

As of Dec. 31, 2011, the company had cash and cash equivalents of $156.4 million, $64 million drawn under the credit facility and total other debt of $2.4 million.

TeleTech is an Englewood, Colo.-based provider of technology-enabled customer engagement and experience solutions.

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