West Corporation, a leading provider of technology-driven communication
services, today announced that it will increase the size of its
previously announced proposed new term loan under its senior secured
credit facilities to approximately $970 million. The new term loan will
be due in 2018 and the proceeds will be used to refinance approximately
$448 million of term loans due in October 2013, pay a cash dividend in
the amount of approximately $500 million to West’s stockholders, and pay
related fees and expenses. As a result of the increased term loan size,
West will not issue $250 million of senior notes as previously
announced. The consummation of new borrowings under the credit
facilities is subject to certain customary conditions.
This press release does not constitute an offer to sell or the
solicitation of an offer to buy any security.
About West Corporation
West Corporation is a leading provider of technology-driven
communication services. West offers its clients a broad range of
communications and network infrastructure solutions that help them
manage or support critical communications. West’s customer contact
solutions and conferencing services are designed to improve its clients’
cost structure and provide reliable, high-quality services. West also
provides mission-critical services, such as public safety and emergency
communications.
Founded in 1986 and headquartered in Omaha, Nebraska, West serves
Fortune 1000 companies and other clients in a variety of industries,
including telecommunications, retail, financial services, public safety,
technology and healthcare. West has sales and operations in the United
States, Canada, Europe, the Middle East, Asia Pacific and Latin America.
For more information on West Corporation, please call 1-800-841-9000 or
visit www.west.com.
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 West’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. These risks and uncertainties include, but are not limited
to, competition in West’s highly competitive industries; increases in
the cost of voice and data services or significant interruptions in
these services; West’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 West’s clients; the non-exclusive
nature of West’s client contracts and the absence of revenue
commitments; security and privacy breaches of the systems West uses to
protect personal data; the cost of pending and future litigation; the
cost of defending West against intellectual property infringement
claims; extensive regulation affecting many of West’s businesses; West’s
ability to protect its proprietary information or technology; service
interruptions to West’s data and operation centers; West’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 West operates;
changes in foreign exchange rates; West’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 West’s ability to
recover consumer receivables on behalf of its clients. In addition, West
is subject to risks related to its level of indebtedness. Such risks
include West’s ability to generate sufficient cash to service its
indebtedness and fund its other liquidity needs; West’s ability to
comply with covenants contained in its debt instruments; the ability to
obtain additional financing; the incurrence of significant additional
indebtedness by West and its subsidiaries; and the ability of West’s
lenders to fulfill their lending commitments. West 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. West undertakes no obligation to update or revise
publicly any forward-looking statements, whether as a result of new
information, future events or otherwise, except to the extent required
by applicable law.
