WEX, a financial technology service provider, amended and restated its credit facility. The lenders agreed to a restatement agreement that increases commitments under WEX’s revolving credit facility from $870 million to $930 million.

The agreement will provide additional tranche A term loans in the amount of approximately $117 million so that outstanding tranche A term loans increased from approximately $874 million to approximately $978 million after giving effect to a quarterly amortization payment. Additionally, the agreement will extend the maturity dates for the tranche A and tranche B term loans and revolving credit and provide additional flexibility with respect to certain negative covenants, prepayments and other provisions of WEX’s credit facility.

The applicable interest rate margin for the revolving credit loans and the tranche A term loans is 2.00% for LIBOR borrowings and 1.00% for base rate borrowings. The applicable interest rate margin for the tranche B term loans is 2.25% for LIBOR borrowings and 1.25% for base rate borrowings.

Bank of America served as administrative agent. BofA Securities, Citizens Bank, Truist Securities, MUFG Bank, Wells Fargo Securities, Santander Bank, BMO Capital Markets and Mizuho Securities USA acted as joint bookrunners with respect to the tranche B term loan facility.

BofA Securities, Citizens Bank, Truist Securities, MUFG Bank, Wells Fargo Securities, Santander Bank, BMO Capital Markets, Mizuho Securities USA, Keybanc Capital Markets, Regions Capital Markets, Deutsche Bank Securities, Bell State Bank & Trust, Fifth Third Bank, Camden National Bank and Webster Bank acted as joint lead arrangers with respect to the tranche B term loan facility.

BofA Securities, Citizens Bank, Truist Securities, MUFG Bank and Wells Fargo Securities acted as joint lead arrangers and bookrunners with respect to the tranche A term loan facility and the revolving credit facility.

BMO Capital Markets and Santander Bank acted as documentation agents with respect to the tranche A term loan facility and the revolving credit facility.