Truist Securities acted as lead arranger with Truist Bank serving as administrative agent for a senior secured revolving credit facility totaling $125 million for REPAY.
“We are pleased with the successful completion of this credit facility, which, in addition to the available proceeds from our concurrent offerings last month of convertible notes and Class A common stock, positions us well for our future acquisition opportunities,” John Morris, CEO of REPAY, said. “Our M&A pipeline remains very active with many high growth targets in large verticals that are underserved from a payment perspective.”
The new facility replaces REPAY’s prior senior secured facilities, which included an undrawn $30 million revolving credit facility. The company paid off all term loans outstanding under its prior credit agreement following the closing last month of its concurrent offerings of convertible notes and Class A common stock.
