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8-K - FORM 8-K - WEST CORP | d397844d8k.htm |
EX-10.1 - EX-10.1 - WEST CORP | d397844dex101.htm |
Exhibit 99.1
West Corporation Completes Financing, Declares Special Dividend
OMAHA, NE, August 15, 2012West Corporation, a leading provider of technology-driven communication services, today announced that it has closed its previously announced $970 million term loan under its senior secured credit facilities. 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 Wests stockholders, and pay related fees and expenses.
This transaction will improve the Companys capital structure, with no significant principal payments due until 2016, said Paul Mendlik, chief financial officer.
With the new term loan, West also received lender consent to amend its credit agreement. The amendment modifies the step-down schedule in the current financial covenants and modifies certain covenant baskets.
The Company also announced that its board of directors has declared a special cash dividend of $1.00 per share. The dividend will be paid to shareholders of record as of August 15, 2012.
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. Wests 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 Wests 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 Wests highly competitive industries; increases in the cost of voice and data services or significant interruptions in these services; Wests 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 Wests clients; the non-exclusive nature of Wests 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 Wests businesses; Wests ability to protect its proprietary information or technology; service interruptions to Wests data and operation centers; Wests 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; Wests 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 Wests 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 Wests ability to generate sufficient cash to service its indebtedness and fund its other liquidity needs; Wests 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 Wests 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.
AT THE COMPANY:
David Pleiss
Investor Relations
(402) 963-1500
dmpleiss@west.com