- This new round of capital together with the financing
announced on February 3, 2023, will
provide Atento with additional operating liquidity and financial
flexibility to address its near-term financial
liabilities.
- This capital raise is a key milestone and significant step
toward strengthening Atento's liquidity position.
NEW
YORK, Feb. 15, 2023 /PRNewswire/ -- Atento S.A.
(NYSE: ATTO, "Atento" or the "Company"), one of the world's largest
providers of customer relationship management services and business
process outsourcing (CRM / BPO), announced today that it has
reached an agreement with certain existing investors to provide
additional financing to the group.
Further to the announcement made on February 3, 2023, a group of existing investors
have agreed to provide Atento with a new financing commitment that
will address the company's near-term liabilities and provide the
company with additional financial flexibility. The total capital
raised is approximately $40
million.
Further details of the transaction, including copy of the
relevant agreements, will be disclosed in the coming days.
Subject to the fulfillment of customary conditions precedent
(CPs), including certain third-party consents, this latest
transaction will provide Atento with additional operating liquidity
and financial flexibility in the coming months, while the Company
continues to advance the transformation of its operational core and
to further strengthen its financial position in the medium
term.
Atento intends to pay its coupon payment obligations under its
senior secured notes due 2026 and all associated hedge payments
upon completion of the new financing.
In parallel with the completion of this transaction, Atento
continues to execute its business plan while maintaining a strong
positive growth trend in EBITDA margin. Additionally, the Company
remains focused on its +400 blue chip clients across sixteen
countries and fulfilling its mission to deliver exceptional
customer experiences through the combination of innovation,
advanced technologies and the human touch.
About Atento
Atento is the largest provider of customer relationship
management and business process outsourcing ("CRM BPO") services in
Latin America, and among the top
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 16
countries where it employs approximately 135,000 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 industries 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®. Also, in 2021 Everest named Atento as a "star performer".
Gartner named the company as a leader for two years in a row, since
2021 in the Gartner Magic Quadrant. For more information visit
www.atento.com
Media Relations
press@atento.com
Investors Relations
Investor_relations@atento.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. In particular, these forward-looking
statements include those about completion of the additional
financing, Atento's liquidity and financial position, and Atento's
transformation plan. These statements reflect only Atento's current
expectations and are not guarantees of future outcomes, 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. Risks and
uncertainties include, but are not limited to, obtaining required
consents from third-parties and satisfying other conditions
precedent for the additional financing that might be outside
Atento's control; actions by Atento's lenders and other financing
sources; Atento's future cash requirements; competition in Atento's
highly competitive industries; increases in the cost of voice and
data services or significant interruptions in these services;
Atento'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 Atento's
clients; the non-exclusive nature of Atento's client contracts and
the absence of revenue commitments; security and privacy breaches
of the systems Atento uses to protect personal data; the cost of
pending and future litigation; the cost of defending Atento against
intellectual property infringement claims; extensive regulation
affecting many of Atento's businesses; Atento's ability to protect
its proprietary information or technology; service interruptions to
Atento's data and operation centers; Atento'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 Atento
operates; changes in foreign exchange rates; Atento'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 Atento's ability to recover consumer
receivables on behalf of its clients. Atento 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. Atento undertakes no obligation to update or
revise publicly any forward-looking statements, whether as a result
of new information, future events or otherwise.
The securities being issued in connection with the transactions
described herein have not and will not been registered under the
U.S. Securities Act of 1933 and may not be offered or sold in
the United States absent
registration or an applicable exemption from the registration
requirements. This press release is not an offer of any securities
for sale or solicitation of an offer to buy any securities.
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SOURCE Atento S.A.