Provides Significant Financial Capacity to Support TeleTech’s
Long-Term Growth and Investment Goals
ENGLEWOOD, Colo.--(BUSINESS WIRE)--Jun. 7, 2013--
TeleTech
Holdings, Inc. (NASDAQ: TTEC), a leading global provider of
technology-enabled customer experience solutions, today announced that
it has entered into a $700 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 billion. The
credit facility will provide TeleTech with additional financial
flexibility under more favorable terms to fund working capital,
discretionary investments and capital distributions, along with organic
and inorganic growth initiatives, including strategic acquisitions.
“The expanded credit facility reflects TeleTech’s financial strength and
our confidence in the Company’s growth and investment opportunities,”
said Kenneth Tuchman, chairman and chief executive officer of TeleTech.
“We are excited to capitalize on the favorable lending environment to
supplement our strong cash flows and balance sheet. This increased
financial flexibility puts TeleTech in a stronger position to actively
pursue value-creating opportunities which will support our long-term
revenue and earnings growth goal,” Tuchman added.
Wells Fargo Securities, LLC, KeyBank National Association, Bank of
America Merrill Lynch, BBVA Compass and HSBC Bank USA, National
Association served as Joint Lead Arrangers for the credit facility. “We
appreciate the demonstrated leadership and execution that our lead banks
provided along with the partnership in building a strong and supportive
syndicate of relationship banks,” said Paul Miller, senior vice
president and corporate treasurer of TeleTech. “The improved terms of
this financing also convey the comfort that our lenders have in our
business, leadership and growth prospects.” The credit facility expires
on June 3, 2018.
ABOUT TELETECH
For 30 years, TeleTech and its subsidiaries have helped the world’s most
successful companies design, enable, manage and grow customer value
through the delivery of superior customer experiences across the
customer lifecycle. As the go-to partner for the Global 1000, the
TeleTech group of companies delivers technology-enabled solutions that
maximize revenue, transform customer experiences and optimize business
processes. From strategic consulting to operational execution, our more
than 39,000 employees drive success for clients in the communications
and media, financial services, government, healthcare, technology,
transportation and retail industries. Through the TeleTech Community
Foundation, the Company leverages its innovative leadership to ensure
that students in underserved communities around the globe have access to
the tools and support they need to maximize their educational outcomes.
For additional information, please visit www.teletech.com.
FORWARD-LOOKING STATEMENTS
Statements in this press release that relate to future results and
events (including statements about future financial and operating
performance) are forward-looking statements based on TeleTech's current
expectations. Actual results and events in future periods could differ
materially from those projected in these forward-looking statements
because of a number of risks and uncertainties including: achieving
estimated revenue from new, renewed and expanded client business as
volumes may not materialize as forecasted, especially due to the global
economic slowdown; the ability to close and ramp new business
opportunities that are currently being pursued or that are in the final
stages with existing and/or potential clients; our ability to execute
our growth plans, including the successful integration of acquired
companies and the sales of new products; the possibility of lower
revenue or price pressure from our clients experiencing a business
downturn or merger in their business; greater than anticipated
competition in the customer management industry, causing adverse pricing
and more stringent contractual terms; risks associated with losing or
not renewing client relationships, particularly large client agreements,
or early termination of a client agreement; the risk of losing clients
due to consolidation in the industries we serve; consumers’ concerns or
adverse publicity regarding our clients’ products; our ability to find
cost-effective locations, obtain favorable lease terms and build or
retrofit facilities in a timely and economic manner; risks associated
with business interruption due to weather, fires, pandemic, or
terrorist-related events; risks associated with attracting and retaining
cost-effective labor at our delivery centers; the possibility of asset
impairments and restructuring charges; risks associated with changes in
foreign currency exchange rates; economic or political changes affecting
the countries in which we operate; changes in accounting policies and
practices promulgated by standard setting bodies; new legislation or
government regulation that adversely impacts our tax obligations, health
care costs or the customer management industry; compliance with credit
facility covenant restrictions; and our ability to obtain financing and
manage counterparty credit risks from financial institutions. A detailed
discussion of these and other risk factors that could affect our results
is included in TeleTech'sSEC filings, including our Annual Report on
Form 10-K for the year ended December 31, 2012. The Company’s filings
with the Securities and Exchange Commission are available in the
“Investors” section of TeleTech’s website, which is located at www.teletech.com.
All information in this release is as of June 7, 2013 The Company
undertakes no duty to update any forward-looking statement to conform
the statement to actual results or changes in the Company’s expectations.
Source: TeleTech Holdings, Inc.
TeleTech Holdings, Inc.
Investor Contact
Paul
Miller, 303-397-8641
or
Media Contact
Jeanna
Blatt, 303-397-8507
