Startek, a global provider of customer experience management solutions, has announced that CSP Alpha Holdings Pte. Ltd., a wholly-owned subsidiary of the Company, has completed a debt refinancing with a newly secured $185 million senior debt facility, comprising a $165 million term loan and a $20 million revolving credit facility.
Borrowings under the new senior debt will bear a tiered interest rate, which is based on the Company’s consolidated net leverage ratio and is initially set at LIBOR plus 450 basis points.
Aparup Sengupta, Startek’s Chairman and Global Chief Executive Officer, stated, “Our new credit facility allows us to extend the maturities of our debt and provides enhanced liquidity. Most importantly, it has a moratorium on principal repayments for the first 21 months, which will provide increased flexibility for the Company to manage its operations and finances. This also enables us to take advantage of growth opportunities and long-term strategic investments that can further improve the margin profile and earnings power of the organization.”
The company provides omni-channel customer experience, digital transformation, and technology services to brands globally. Startek has more than 40,000 CX experts spread across 46 delivery campuses in 13 countries. The company services over 250 clients across a range of industries such as Banking and Financial Services, Insurance, Technology, Telecom, Healthcare, Travel & Hospitality, Ecommerce, Consumer Goods, Retail, and Energy & Utilities.
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