Startek announces $185mn debt refinancing with term loan, revolving credit

Borrowings under new senior debt will bear tiered interest rate, based on Startek's consolidated net leverage ratio and is initially set at Libor plus 450 bps

NYSE-listed BPM firm Startek, which has centres in India, said that CSP Alpha Holdings, a wholly-owned subsidiary of the Company, has successfully completed a debt refinancing with a newly secured $185 million senior debt facility, consisting of a $165 million term loan and a $20 million revolving credit facility.

Borrowings under the new senior debt will bear a tiered interest rate, which is based on Startek’s consolidated net leverage ratio and is initially set at LIBOR plus 450 basis points.

Aparup Sengupta, Startek’s Chairman and Global Chief Executive Officer, stated, “Our new credit facility allows us to extend the maturities of our