WEX loan restatement includes upsized $930 million revolver

By Wendy Van Sickle

Columbus, Ohio, April 1 – WEX Inc. amended and restated its credit facility, increasing its revolver to $930 million from $870 million, according to a news release.

The credit facility includes an additional tranche of A term loans of about $117 million, bringing the tranche A to $978 million after giving effect to a quarterly amortization payment.

The maturity date for the revolver and tranche A loans is now April 1, 2026, and the maturity date for the tranche B loans is April 1, 2028.

The revolver and tranche A loans bear interest at Libor plus 200 basis points, and the tranche B loans at Libor plus 225 bps.

Bank of America, NA is the administrative agent.

BofA Securities, Inc., Citizens Bank, NA, Truist Securities, Inc., MUFG Bank, Ltd., Wells Fargo Securities, LLC, Santander Bank, NA, BMO Capital Markets Corp. and Mizuho Securities USA LLC acted as joint bookrunners for the tranche B term loan as well as joint lead arrangers along with Keybanc Capital Markets Inc., Regions Capital Markets, Deutsche Bank Securities Inc., Bell State Bank & Trust, Fifth Third Bank, NA, Camden National Bank and Webster Bank, NA.

BofA, Citizens, Truist, MUFG and Wells Fargo acted as joint lead arrangers and bookrunners for the tranche A term loan and the revolver. BMO and Santander acted as documentation agents for the tranche A term loan and the revolver.

WEX is a Portland, Me.-based financial technology service provider.

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