Banc of America Securities Arranges $85 Million Financing for ICT Group, Inc.

Apr 25, 2001, 01:00 ET from Banc of America Securities LLC

    CHARLOTTE, N.C., April 25 /PRNewswire/ -- Banc of America Securities today
 announced the completion of an $85 million senior revolving credit facility on
 behalf of ICT Group, Inc. (Nasdaq:   ICTG), a leading global provider of
 Customer Relationship Management (CRM) solutions. Banc of America Securities
 acted as the sole lead arranger on the three-year facility.
     Commenting on the new facility, John J. Brennan, Chairman and CEO of ICT
 Group, said, "Given the strong revenue growth we have seen in the past few
 quarters, it is important for ICT Group to secure the capital resources needed
 to maintain this momentum and support expansion going forward.  With this
 syndication, we nearly doubled our borrowing capacity by adding an additional
 $40 million of credit availability.  Further, we believe this facility gives
 us the resources to support both geographic and service offering expansion."
     "ICT Group has an enviable history of success," said William McDonald,
 Bank of America Mid-Atlantic Commercial Banking Executive. "We are very
 excited about the success of this transaction and are grateful for the
 opportunity to work with ICT Group."
     ICT Group, Inc., is a leading global provider of Customer Relationship
 Management solutions, helping its clients identify, acquire, retain, service,
 measure and maximize the lifetime value of their customer relationships. The
 Company manages 42 customer contact centers in the United States, Europe,
 Canada and Australia, utilizing 5,921 automated workstations. In addition to
 traditional outbound and inbound telesales, ICT Group also provides customer
 care management services, web-enabled contact center services, and e-mail
 management processing for domestic and international corporations. Based in
 Langhorne, Pennsylvania, ICT Group was founded in 1987 through a management
 led buyout from its parent company.  To learn more about ICT Group, visit the
 company's web site at http://www.ictgroup.com.
     Banc of America Securities LLC, a subsidiary of Bank of America
 Corporation, is a full-service investment bank and brokerage firm. With
 principal offices in San Francisco, New York and Charlotte, Banc of America
 Securities employs more than 4,200 associates in offices around the country
 and, with affiliates, offers capabilities worldwide.
     Bank of America is one of the world's leading financial services
 companies. Through offices in 38 countries, the company's Global Corporate and
 Investment Bank provides investment banking, trade finance, treasury
 management, capital markets, leasing and financial advisory services to
 domestic and international corporations, financial institutions and government
 entities.
 
     Bank of America stock (ticker: BAC) is listed on the New York, Pacific and
 London stock exchanges. The company's Global Corporate and Investment banking
 web site is http://corp.bankofamerica.com. The company's web site is
 http://www.bankofamerica.com.
 
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SOURCE Banc of America Securities LLC
    CHARLOTTE, N.C., April 25 /PRNewswire/ -- Banc of America Securities today
 announced the completion of an $85 million senior revolving credit facility on
 behalf of ICT Group, Inc. (Nasdaq:   ICTG), a leading global provider of
 Customer Relationship Management (CRM) solutions. Banc of America Securities
 acted as the sole lead arranger on the three-year facility.
     Commenting on the new facility, John J. Brennan, Chairman and CEO of ICT
 Group, said, "Given the strong revenue growth we have seen in the past few
 quarters, it is important for ICT Group to secure the capital resources needed
 to maintain this momentum and support expansion going forward.  With this
 syndication, we nearly doubled our borrowing capacity by adding an additional
 $40 million of credit availability.  Further, we believe this facility gives
 us the resources to support both geographic and service offering expansion."
     "ICT Group has an enviable history of success," said William McDonald,
 Bank of America Mid-Atlantic Commercial Banking Executive. "We are very
 excited about the success of this transaction and are grateful for the
 opportunity to work with ICT Group."
     ICT Group, Inc., is a leading global provider of Customer Relationship
 Management solutions, helping its clients identify, acquire, retain, service,
 measure and maximize the lifetime value of their customer relationships. The
 Company manages 42 customer contact centers in the United States, Europe,
 Canada and Australia, utilizing 5,921 automated workstations. In addition to
 traditional outbound and inbound telesales, ICT Group also provides customer
 care management services, web-enabled contact center services, and e-mail
 management processing for domestic and international corporations. Based in
 Langhorne, Pennsylvania, ICT Group was founded in 1987 through a management
 led buyout from its parent company.  To learn more about ICT Group, visit the
 company's web site at http://www.ictgroup.com.
     Banc of America Securities LLC, a subsidiary of Bank of America
 Corporation, is a full-service investment bank and brokerage firm. With
 principal offices in San Francisco, New York and Charlotte, Banc of America
 Securities employs more than 4,200 associates in offices around the country
 and, with affiliates, offers capabilities worldwide.
     Bank of America is one of the world's leading financial services
 companies. Through offices in 38 countries, the company's Global Corporate and
 Investment Bank provides investment banking, trade finance, treasury
 management, capital markets, leasing and financial advisory services to
 domestic and international corporations, financial institutions and government
 entities.
 
     Bank of America stock (ticker: BAC) is listed on the New York, Pacific and
 London stock exchanges. The company's Global Corporate and Investment banking
 web site is http://corp.bankofamerica.com. The company's web site is
 http://www.bankofamerica.com.
 
                     MAKE YOUR OPINION COUNT -  Click Here
                http://tbutton.prnewswire.com/prn/11690X60365379
 
 SOURCE  Banc of America Securities LLC