NEW YORK, Feb. 23, 2021 /PRNewswire/ -- Atento S.A. (NYSE:
ATTO) ("Atento" or the "Company"), the largest provider of customer
relationship management and business-process outsourcing services
in Latin America, and among the
top five providers globally based on revenue, today announced that
its wholly owned subsidiary, Atento Luxco 1 (the "Issuer"), has
completed the refinancing of its remaining 6.125% Senior Secured
Notes due 2022 (the "Existing Notes"). As previously announced, the
Issuer has closed a private offering of senior secured notes in an
aggregate principal amount of $500
million due 2026 (the "Notes"). The net proceeds from the
offering of the Notes, combined with cash in hand, were used to
fully redeem the Company's outstanding Existing Notes. The Notes
mature on February 10, 2026 and will
pay interest at a rate of 8.0% per annum. With this transaction,
the Company´s average debt life increased from 1.5 years to 4.5
years
Carlos López-Abadía, Atento's Chief Executive Officer, said, "We
are pleased with the result of the refinancing of our debt. Having
a highly oversubscribed book is a testament that investors
recognize the results we have already delivered as part of the
turnaround process we initiated in 2019, and the strong results we
have delivered despite the challenging pandemic environment. The
refinancing affords us greater financial flexibility to further
penetrate high-growth verticals with Atento's innovative
next-generation CXM and BPO services. We remain confident in our
ability to continue delivering results aimed at delivering returns
to our shareholders."
Jose Azevedo, Atento's Chief
Financial Officer, added, "Favorable market conditions and strong
demand from investors allowed us to complete our refinancing
process in a timely manner. We remain committed to continue
deleveraging our balance sheet and improving Atento´s capital
structure, aiming to achieve our 2022 net debt-to-EBITDA target of
2.0 to 2.5 times. We believe this is one of the key elements to
unlock value to shareholders, creating a strong alignment between
all stakeholders."
About Atento
Atento is the largest provider of customer relationship
management and business process outsourcing ("CRM BPO") services in
Latin America, and among the top
five providers globally. Atento is also a leading provider of
nearshoring CRM BPO services to companies that carry out their
activities in the United States.
Since 1999, the company has developed its business model in 13
countries where it employs approximately 137,000 people. Atento has
over 400 clients to whom it offers a wide range of CRM BPO services
through multiple channels. Atento's clients are mostly leading
multinational corporations in sectors such as telecommunications,
banking and financial services, health, retail and public
administrations, among others. Atento's shares trade under the
symbol ATTO on the New York Stock Exchange (NYSE). In 2019, Atento
was named one of the World's 25 Best Multinational Workplaces and
one of the Best Multinationals to Work for in Latin America by Great Place to Work®. Atento
is also the world's first CRM company to be ISO 56002 certified in
Innovation Management. For more information visit
www.atento.com
Investor
Relations
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Investor
Relations
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Media
Relations
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|
|
Shay Chor
|
Fernando
Schneider
|
Pablo Sánchez
Pérez
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+55 11
3293-5926
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+ 55 11
3779-8119
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+34
670031347
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shay.chor@atento.com
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fernando.schneider@atento.com
|
pablo.sanchez@atento.com
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Forward-Looking Statements
This press release
contains forward-looking statements. Forward-looking statements can
be identified by the use of words such as "may," "should,"
"expects," "plans," "anticipates," "believes," "estimates,"
"predicts," "intends," "continue" or similar terminology. These
statements reflect only Atento's current expectations and are not
guarantees of future performance or results. These statements are
subject to risks and uncertainties that could cause actual results
to differ materially from those contained in the forward-looking
statements. In particular, the COVID-19 pandemic, and governments'
extraordinary measures to limit the spread of the virus, are
disrupting the global economy and Atento's industry, and
consequently adversely affecting the Company's business, results of
operation and cash flows and, as conditions are recent, uncertain
and changing rapidly, it is difficult to predict the full extent of
the impact that the pandemic will have. 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 in these services; Atento's
ability to keep pace with its clients' needs for rapid
technological change and systems availability; the continued
deployment and adoption of emerging technologies; the loss,
financial difficulties or bankruptcy of any key clients; the
effects of global economic trends on the businesses of Atento's
clients; the non-exclusive nature of Atento's client contracts and
the absence of revenue commitments; security and privacy breaches
of the systems Atento uses to protect personal data; the cost of
pending and future litigation; the cost of defending Atento against
intellectual property infringement claims; extensive regulation
affecting many of Atento's businesses; Atento's ability to protect
its proprietary information or technology; service interruptions to
Atento's data and operation centers; Atento's ability to retain key
personnel and attract a sufficient number of qualified employees;
increases in labor costs and turnover rates; the political,
economic and other conditions in the countries where Atento
operates; changes in foreign exchange rates; Atento's ability to
complete future acquisitions and integrate or achieve the
objectives of its recent and future acquisitions; future
impairments of our substantial goodwill, intangible assets, or
other long-lived assets; and Atento's ability to recover consumer
receivables on behalf of its clients. In addition, Atento is
subject to risks related to its level of indebtedness. Such risks
include Atento's ability to generate sufficient cash to service its
indebtedness and fund its other liquidity needs; Atento's ability
to comply with covenants contained in its debt instruments; the
ability to obtain additional financing; the incurrence of
significant additional indebtedness by Atento and its subsidiaries;
and the ability of Atento's lenders to fulfill their lending
commitments. Atento is also subject to other risk factors described
in documents filed by the company 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 undertakes no obligation to
update or revise publicly any forward-looking statements, whether
as a result of new information, future events or otherwise.
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SOURCE Atento S.A.