TTEC Holdings downsizes revolver to $900 million, extends to 2024

By Wendy Van Sickle

Columbus, Ohio, March 6 – TTEC Holdings, Inc. amended and extended its credit facility for a $900 million multicurrency revolving credit facility maturing in February 2024, according to a news release.

The amended credit facility has an accordion feature that permits an increase in total commitments up to $1.2 billion.

Wells Fargo Securities, LLC, Bank of America, Bank of the West, HSBC Bank USA and U.S. Bank served as joint lead arrangers for the credit facility, and KeyBank and PNC Bank served as documentation agents.

The amended credit facility replaces the company’s prior credit facility which was reduced from $1.2 billion and was due to expire in February 2021.

“We are pleased with the outcome of our credit facility refinancing and its purpose to complement our strong cash flows and balance sheet in pursuing long-term, value-creating opportunities,” Regina Paolillo, chief financial and administrative officer of TTEC, said in the release. “The credit facility will provide TTEC with financial flexibility to support working capital and growth-oriented investments, including strategic acquisitions, along with discretionary capital distributions.”

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

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