WEX talks $350 million 10-year senior notes to yield 4¾%-5%

By Paul A. Harris

Portland, Ore., Jan. 24 - WEX Inc. talked its $350 million offering of 10-year senior notes (Ba3/BB) to yield 4¾% to 5%, a syndicate source said on Thursday.

The deal is set to price on Friday.

Wells Fargo Securities LLC is the left bookrunner.

Bank of America Merrill Lynch, SunTrust Robinson Humphrey Inc. and RBS Securities Inc. are the joint bookrunners, and BMO Securities, KeyBanc Capital Markets LLC, Mitsubishi UFJ Securities and SMBC are the co-managers.

The Rule 144A and Regulation S for life notes will be non-callable for five years.

The South Portland, Maine-based provider of corporate card payment solutions plans to use the proceeds to repay a portion of the debt outstanding under the company's senior secured credit facility.

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