Press Release Archive
Premiere Global Services Increases Line of Credit to $300 Million
Apr 25, 2006
ATLANTA, GA, April 25, 2006 - Premiere Global Services, Inc. (NYSE: PGI), a global outsource provider of business process solutions, today announced it has closed an amendment to its credit facility that provides for, among other things, the expansion of its revolving line of credit limit to $300 million from $180 million, and the extension of its term to April 2011 from February 2009. The new facility, with a syndicate led by Bank of America, N.A., LaSalle Bank National Association and Wachovia Bank, N.A., will be available for working capital and expansion opportunities.
"We are pleased to again have increased and extended the time horizon of our bank facility,” said Boland T. Jones, Founder, Chairman, and CEO of Premiere Global Services, Inc. "The improved economics demonstrate continued confidence in our business model, which is built on embedding innovative communication technologies into our global enterprise clients’ workflow that enable them to better manage their internal communications and customer relations from cradle to grave."
About Premiere Global Services, Inc.
Premiere Global Services, Inc., formerly Ptek Holdings, Inc., is a leading global provider of innovative business communications and data services. Customers use our ASP platform to conduct traditional and VoIP-based collaboration sessions and to process and deliver large quantities of individualized, business critical information. Premiere Global offers outsourced document delivery, data capture, alerts/notifications and campaign management solutions that automate customers' business processes and improve efficiency levels enterprise-wide. We also offer a full suite of conferencing solutions, including automated, operator-assisted and Web collaboration services that enable customers to communicate real-time via our advanced, open standards global conferencing platform.
Premiere Global serves more than 46,000 corporate accounts in nearly every business sector, throughout 18 countries worldwide. Our corporate headquarters is located at 3399 Peachtree Road NE, Suite 700, Atlanta, GA 30326. Additional information can be found at www.pgi.com.
Forward-looking and cautionary statements
Statements made in this press release, other than those concerning historical information, should be considered forward-looking and subject to various risks and uncertainties. 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 Premiere Global Services’ forward-looking statements, including, but not limited to, the following factors: competitive pressures, including pricing pressures; technological change; the development of alternatives to our services; market acceptance of our new services and enhancements; integration of acquired companies; service interruptions; increased financial leverage; our dependence on our subsidiaries for cash flow; continued weakness in our legacy broadcast fax business; foreign currency exchange rates; possible adverse results of pending or future litigation or infringement claims; federal or state legislative or regulatory changes; general domestic and international economic, business or political conditions; and other factors described from time to time in our press releases, reports and other filings with the SEC, including but not limited the “Risk Factors Affecting Future Performance” section of our Annual Report on Form 10-K for the year ended December 31, 2004. All forward-looking statements attributable to us or a person acting on our behalf are expressly qualified in their entirety by this cautionary statement.