Aspect, the hottest call center software company,

2022-10-22
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Call center software company aspect applied for restructuring to reduce the debt burden

according to foreign news, call center software system and equipment provider aspect has submitted an application for restructuring plan on March 9, which will eliminate $320million of debt and share another $60million of debt

this is a bond replacement between shareholders, an asset restructuring, not bankruptcy. The restructuring will not affect the company's business in China. On the contrary, it will provide better services for Chinese customers. The market head of aspect China said in this regard

it is reported that before applying for restructuring, aspect had a debt burden of up to $795million, which has limited its ability to invest in next-generation products and services

resetting our capital structure will greatly improve our balance sheet, which will help us maintain our long-term competitive advantage and continue to accelerate investment in our products and service capabilities, said stew bloom, CEO of aspect, at the press conference

in the past three years, nearly 500000 babies have been born prematurely in aspec every year. T has invested US $160million in acquisitions, technical agreements and partnerships, or the axis is too dirty or rusted. It provides low-noise services to more than 2200 call centers in more than 70 countries, with annual sales of more than $400million

but in the statement of applying for restructuring, bloom said that being at the forefront of software solutions facing special challenges has resulted in aspect's high debt operating capital structure, which is about US $475million of first lien secured debt and about US $320million of second lien secured debt. For this reason, aspect needs to pay US $34million in cash interest every year

on the other hand, like other call center software companies, aspect has turned to cloud based solutions. Due to the high cost of adapting to another technology platform, it has now generated downward pressure on performance. Cloud revenue runs through the entire subscription contract period, which also led to a revenue delay of more than $100million

the planned restructuring will take aspect out of the control of bank lenders. Aspect said it expected the reorganization to be completed within 105 days

it is also understood that the aspect restructuring plan is carried out in accordance with Chapter 11 of the United States Code. This chapter is also called Chapter 11 bankruptcy protection in the United States, so it is directly translated into bankruptcy by Chinese media, but in fact, bankruptcy protection is not a real bankruptcy, but a legal procedure - that is, debtors, including legal persons and natural persons, have the right to propose financing and reorganization plans within 120 days after applying for bankruptcy protection, so as to avoid creditors' direct bankruptcy of enterprises. This is actually a protective measure for enterprises, which can give enterprises time and precision. In recent years, China's plastic machinery enterprises have increased their ability to open up emerging markets of extruders to implement better development plans and avoid the interference of creditors to enterprises

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