WEX shops amendment to transition term loan to SOFR

By Sara Rosenberg

New York, April 18 – WEX Inc. is seeking a negative consent amendment to shift its term loan B to SOFR from Libor and add CSA, according to a market source.

The CSA being offered is ARRC standard of 11.448 basis points one-month rate, 26.161 bps three-month rate and 42.826 bps six-month rate.

BofA Securities Inc. is the lead on the deal.

The amendment deadline is the end of the day on Monday, the source added.

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

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