Startek amends $140 million term loan, $20 million revolver

By Taylor Fox

Chicago, July 13 – Startek Inc. has entered into an amendment agreement providing for a $140 million term loan facility for its senior term loan and a $20 million revolving credit facility, according to a news release.

The amendments now also provide Startek with a deferment of principal payments until February 2021 as well as a potential increase of the revolving credit facility to $27.5 million from $20 million. The majority of financial covenants have also been waived for the rest of the year, including those related to cash flow cover, interest cover and adjusted leverage ratio.

Startek has agreed to accede to the facilities agreement as an additional guarantor.

Startek is a technology service provider located in Greenwood Village, Colo.

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