Premiere Global Services, Inc. (NYSE: PGI) said it has closed an amendment to its credit facility.
Four new provisions include increasing the overall borrowing capacity to USD500m from USD400m; extending the maturity of the credit facility for one additional year to August 27, 2019; reducing the applicable interest rates across the pricing grid; and increasing PGi´s maximum consolidated leverage ratio to 3.5.
Boland T. Jones, PGi CEO, said, “We believe this improved and expanded facility demonstrates continuing confidence in our business model and will enable us to continue to invest and grow our business for the future.”
PGi has been a leading global provider of collaboration software and services for over 20 years. PGi´s cloud-based software applications empower business users to connect, collaborate and share ideas and information from their desktop, tablet or smartphone, enabling greater productivity in the office or on the go. PGi has a global presence in 25 countries, and its award-winning solutions provide a collaborative advantage to over 45,000 enterprise customers. For more information, visit PGi at pgi.com.