MIAMI, Dec. 28, 2010 /PRNewswire/ -- Brightstar Corp., a global leader in services and solutions for the wireless industry, refinanced its U.S. Senior Revolving Credit Facility. The facility complements the recent $250 million six year notes issued in November, and provides long term committed capital to support the company's business plans and continued growth. The facility has a five year maturity and will provide Brightstar with working capital financing at a cost of approximately 225 basis points over Libor.
Marcelo Claure, founder & CEO of Brightstar, stated, "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."
Dennis Strand, Brightstar's executive vice president and chief financial officer, commented, "This refinancing was the second part of our capitalization and provides the company with superior long term liquidity."
About Brightstar Corp.
Brightstar is a global services company providing solutions to Manufacturers, Operators, Retailers, and Enterprises serving the telecommunications industry. With sales and distribution facilities on six continents, Brightstar offers its customers the largest global reach, enabling the right product to be in the right place, at the right time. For more information on Brightstar, please visit www.brightstarcorp.com.
SOURCE Brightstar Corp.