Atento S.A. (NYSE: ATTO), 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, has completed the refinancing of its remaining 6.125% Senior Secured Notes due 2022. 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 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."
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