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.
According to an 8K filed with the SEC, Bank of America served as administrative agent on an amendment to WEX’s existing senior secured credit facilities. In addition, WEX agreed to a $400 million dollar investment from an affiliate of Warburg Pincus.
WEX has repriced its senior secured credit loans under its existing credit facility, extending the deadline to July 1, 2023, increasing the revolver by $150 million and providing an additional $25 million tranche A term loan.
WEX repriced its secured term loans under its existing credit facility. Bank of America acted as administrative agent, joint lead arranger and joint bookrunner.
WEX, a provider of corporate and small business payment solutions, launched a partnership with OnDeck. WEX will offer business financing from OnDeck to its small business customers.
WEX completed its acquisition of Electronic Funds Source. Bank of America served as agent for a lender group that provided $2.125 billion of financing to support the acquisition.