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ExlService Holdings enters $200M credit facility

ExlService Holdings Inc. has entered into a credit agreement with Citibank NA as administrative agent and other lenders, providing for a $200 million revolving credit facility due Nov. 21, 2022.

The company has an option to increase the commitments by up to an additional $100 million, subject to certain approvals and conditions. The facility also has a letter of credit subfacility.

Borrowings under the credit agreement were used on Nov. 21 to refinance certain debt of the company. The company may otherwise use the borrowings for working capital and general corporate purposes, including permitted acquisitions.

Additionally, as of Nov. 21, ExlService Holdings repaid in full and terminated the credit agreement dated as of Oct. 24, 2014, with JPMorgan Chase Bank NA as administrative agent.

Depending on the type of borrowing, loans under the agreement bear interest at a rate equal to the specified prime rate or adjusted LIBOR, plus, in each case, an applicable margin.