Brightstar refinances credit facility to fund growth

Brightstar refinances its senior revolving credit facility in order to continue expansion

US handset distributor Brightstar has refinanced its US senior revolving credit facility, further complementing the recent $250-million six-year note the company was issued in November.

The company said the refinancing will be vital in its ambition to expand its global presence.

The new facility has a five year maturity and will provide Brightstar with working capital financing of about 225 basis points over London interbank offered rate (Libor).

Brightstar president and chief executive Marcelo Claure (pictured) said: “I am very pleased with the successful refinancing of our primary credit facility. This facility will be the foundation for funding our growth around the world.