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eTelecare gets new Well Fargo credit line
Philippine-based business process outsourcing (BPO) company eTelecare Global Solutions Inc. said Friday it had obtained a $25-million credit facility from Wells Fargo Bank NA to support its working capital needs in the next four years.
eTelecare chief economic official Michael Dodson said the credit line replaced a credit sell to Wells Fargo bluff Inc. that was abominated last July 20 because of the new facility. The former sell consisted of two label loans and a spinning credit line with borrowing ability of up to $25 million. |
Dodson said that, as of the time of termination, there were no outstanding amounts allocated and that eTelecare incurred no termination penalties.
He said drawdown from the new facility would be worn to support eTelecares working capital on an as-desired midpoint over a four-year label.
Under the new bargain, borrowings would carry fascinate at a price even to 30-, 60-, 90- or 180-day London interbank overnight prices for US buck deposits positive 1.25 percent.
eTelecare is set to open in the third house its sixth call midpoint in the Philippines and 13th in the world.
The new call midpoint occupies interval adding 13,000 justly meters. It can house up to 3,000 agents.
Announced last May, the extension follows completion of the company's $74-million early free donation of routine on NASDAQ in the United States.
In the US, eTelecare has three call midpoints in Arizona, two in North Dakota, one in South Dakota and one in New Mexico.
eTelecare has a complete of about 10,000 employees, with some 73 percent based in the Philippines. The new call midpoint will create the Philippine percentage to 80 percent, and the complete employees to virtually 13,000. |
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