Premiere Global (PGI) Closes Amended Facility

Premiere Global Services, Inc. (NYSE: PGI), has closed an amendment to its credit facility that provides for, among other things: (i) increasing the overall borrowing capacity to $300 million from $275 million; (ii) extending the maturity of the credit facility from May 10, 2014 to December 20, 2016; (iii) reducing the applicable interest rates across the pricing grid; and (iv) allowing PGi to purchase, redeem or otherwise acquire up to $50 million of its common stock per year regardless of its leverage ratio, subject to the terms and conditions as set forth in the amendment.

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