ATTO - Atento signs new super senior revolving credit facility lowering cost of debt

Atento (NYSE:ATTO) entered into a new super senior revolving credit facility with IDB Invest, the private sector arm of the Inter-American Development Bank, on Dec.23. The new credit facility will initially provide total financing commitments of up to $43M; further $7M may be committed if Atento exceeds a net worth test. The facility has a 5-year term to Dec. 23, 2026 and will replace Atento's existing $50M super senior revolving credit facility, which matures on Feb. 10, 2022. The company plans to draw the new credit facility to repay the $25M outstanding under the existing revolving credit facility, and to use the remainder of the funding for its working capital and capital expenditure needs in Latin America. Atento has managed successfully to complete its refinancing strategy to extend the maturity date of its main debt instruments until 2026. "Following the refinancing of $500M of senior secured notes earlier this year, which extended the

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Atento signs new super senior revolving credit facility lowering cost of debt