Atento announces the signing of a new super senior revolving credit facility
NEW YORK, December 29, 2021 / PRNewswire / – Atento SA (NYSE: ATTO, “Atento”), one of the world’s five largest providers of customer relationship and business process outsourcing (CRM / BPO) services and an industry leader in Latin America, announced today its entry on 23 December 2021 a new super senior revolving credit facility with IDB Invest, the private sector arm of the Inter-American Development Bank.
The new credit facility will initially provide total funding commitments of up to $ 43 million. Another $ 7.0 million can be incurred if Atento exceeds a net worth test. The new credit facility has a term of five years for December 23, 2026 and will replace the existing Atento $ 50 million super senior revolving credit facility, which matures on February 10, 2022. Atento intends to draw on the new credit facility to repay the $ 25.0 million under the existing revolving credit facility, and use the remainder of the financing for its working capital and capital expenditure needs Latin America.
With this financial milestone and following the refinancing of Atento’s senior covered bonds in February 2021, Atento has successfully completed its refinancing strategy of extending the maturity date of its main debt instruments to 2026. At the same time, the new revolving credit facility lowers Atento’s cost of debt.
Under the terms of the IDB funding, Atento is to work closely with the IDB to promote certain environmental and social standards, including gender diversity commitments, and will be subject to certain provisions related to ESGs and sanctions in addition. customary loan clauses, events of default and reporting. obligations.
José Azevedo, Chief Financial Officer of Atento, said: “As part of our goal of creating long-term shareholder value, we have refinanced and reduced the risk of Atento’s capital structure. Following the refinancing of $ 500 million senior secured notes earlier this year, which extended the average maturity of Atento’s debt from 1.5 years to 4.3 years, our new revolving credit facility through IDB Invest further strengthens our debt structure. capital while providing additional financial flexibility and reducing the financing costs of Atento. Mr. Azevedo added: “The beneficial financing was made possible by the ESG alignment of Atento with IDB Invest, as well as by efficient management of our balance sheet.
Atento is the largest provider of customer relationship management and business process outsourcing (“CRM BPO”) services in Latin America, and among the top five global suppliers. Atento is also one of the leading providers of proximity CRM BPO services to companies operating in United States. Since 1999, the company has developed its business model in 14 countries where it employs around 139,800 people. Atento has more than 400 clients to whom it offers a wide range of CRM BPO services through multiple channels. Atento’s clients are mostly leading multinational companies in industries such as telecommunications, banking and financial services, healthcare, retail and public administration, among others. Atento shares trade under the symbol ATTO on the New York Stock Exchange (NYSE). In 2019, Atento was named one of the 25 Best Multinational Companies in the World and one of the Best Multinational Companies to Work for. Latin America by Great Place to Work®. Additionally, in 2021, Everest named Atento as a Featured Artist, Gartner named the Leading Company in the Gartner Magic Quadrant 2021. For more information, visit www.atento.com
This press release contains forward-looking statements. Forward-looking statements can be identified by the use of words such as “may”, “should”, “expects”, “plans”, “plans”, “believes”, “estimates”, “predicts”, ” intends ”,“ continue ”or similar terminology. In particular, these forward-looking statements include those regarding the refinancing of Atento’s existing super senior revolving credit facility with its new super senior credit facility. These statements only reflect Atento’s current expectations and do not constitute guarantees of future performance, results or results. These statements are subject to risks and uncertainties which could cause actual results to differ materially from those contained in forward-looking statements. Risks and uncertainties include, but are not limited to, competition in Atento’s highly competitive industries; increases in the cost of voice and data services or significant interruptions to these services; Atento’s ability to keep pace with its customers’ needs for rapid technological change and system availability; the continued deployment and adoption of emerging technologies; loss, financial hardship or bankruptcy of key customers; the effects of global economic trends on the activities of Atento customers; the non-exclusive nature of Atento’s customer contracts and the absence of revenue commitments; breaches of the security and confidentiality of the systems Atento uses to protect personal data; the cost of current and future litigation; the cost of defending Atento against intellectual property infringement claims; extensive regulations affecting many of Atento’s activities; Atento’s ability to protect its proprietary information or technologies; interruptions in service to Atento’s data centers and operations; Atento’s ability to retain key personnel and attract a sufficient number of qualified employees; increases in labor costs and turnover rates; political, economic and other conditions in the countries where Atento operates; changes in exchange rates; the ability of Atento to complete future acquisitions and to integrate or achieve the objectives of its recent and future acquisitions; future impairments of our substantial goodwill, intangible assets or other long-lived assets; Atento’s ability to collect trade receivables on behalf of its customers; and the current COVID-19 pandemic. Atento is also subject to other risk factors described in documents filed by Atento with the United States Securities and Exchange Commission. These forward-looking statements speak only as of the date on which the statements were made. Atento assumes no obligation to publicly update or revise forward-looking statements, whether as a result of new information, future events or otherwise.
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SOURCE Atento SA