ATLANTA, Aug. 27, 2014 /PRNewswire/ -- Premiere
Global Services, Inc. (NYSE: PGI), a global leader in collaboration
software and services for over 20 years, today announced it has
closed an amendment to its credit facility that provides for, among
other things: (i) increasing the overall borrowing capacity to
$500 million from $400 million; (ii) extending the maturity of the
credit facility for one additional year to August 27, 2019; (iii) reducing the applicable
interest rates across the pricing grid; and (iv) increasing PGi's
maximum consolidated leverage ratio to 3.5x.
"We are pleased to have, once again, extended the term and
improved the pricing and covenants of our credit facility,
providing us greater flexibility to execute our strategic growth
plans, while also lowering our cost of capital," said Boland T. Jones, PGi founder, chairman and CEO.
"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."
About Premiere Global Services, Inc. | PGi
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, including 75% of the Fortune
100™. In the last five years, PGi has hosted more than 1.1
billion people from 137 countries in over 250 million virtual
meetings. For more information, visit PGi at pgi.com.
Statements made in this press release, other than those
concerning historical information, should be considered
forward-looking and subject to various risks and uncertainties,
many of which are beyond our control. Such forward-looking
statements are made pursuant to the "safe harbor" provisions of the
Private Securities Litigation Reform Act of 1995 and are made based
on management's current expectations or beliefs as well as
assumptions made by, and information currently available to,
management. A variety of factors could cause actual results to
differ materially from those anticipated in PGi's forward-looking
statements, including, but not limited to, the following factors:
competitive pressures, including pricing pressures; technological
changes and the development of alternatives to our services; market
acceptance of PGi's SaaS products, including iMeet® and
GlobalMeet®; our ability to attract new customers and to
retain and further penetrate our existing customers; our ability to
establish and maintain strategic reseller and distribution
relationships; risks associated with challenging global economic
conditions; price increases from our telecommunications service
providers; service interruptions and network downtime, including
undetected errors or defects in our software; technological
obsolescence and our ability to upgrade our equipment or increase
our network capacity; concerns regarding the security and privacy
of our customers' confidential information; future write-downs of
goodwill or other intangible assets; greater than anticipated tax
and regulatory liabilities; restructuring and cost reduction
initiatives and the market reaction thereto; our level of
indebtedness; risks associated with acquisitions and divestitures;
indemnification claims from the sale of our PGiSend business; our
ability to protect our intellectual property rights, including
possible adverse results of litigation or infringement claims;
regulatory or legislative changes, including further government
regulations applicable to traditional telecommunications service
providers and data privacy; risks associated with international
operations and market expansion, including fluctuations in foreign
currency exchange rates; and other factors described from time to
time in our press releases, reports and other filings made with the
Securities and Exchange Commission, including but not limited to
the "Risk Factors" section of our Annual Report on Form 10-K for
the year ended December 31, 2013. All
forward-looking statements attributable to us or a person acting on
our behalf are expressly qualified in their entirety by this
cautionary statement. We do not undertake any obligation to update
or to release publicly any revisions to forward-looking statements
contained in this press release to reflect events or circumstances
occurring after the date of this press release or the date of the
statement, if a different date, or to reflect the occurrence of
unanticipated events.
Media Contact:
Blakely Thomas-Aguilar
(404) 262-8429
Blakely.Thomas-Aguilar@pgi.com
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SOURCE Premiere Global Services, Inc.