WilmerHale Advises WEX in $400 Million Investment From Warburg Pincus and Amendment to Credit Agreement 

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WilmerHale Advises WEX in $400 Million Investment From Warburg Pincus and Amendment to Credit Agreement 

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On June 29,  WEX Inc. (NYSE: WEX), a leading provider of corporate payments solutions, announced a $400 million dollar investment from an affiliate of Warburg Pincus LLC in a private placement, including $310 million in aggregate principal amount of 6.50% convertible senior notes due 2027 and $90 million of common stock. The transaction closed on July 1, 2020. WEX has also obtained an amendment to its existing senior secured credit facilities, providing WEX with increased financial flexibility. The combination of the investment and the credit agreement amendment will strengthen WEX’s financial profile and will enable the company to remain focused on its strategic initiatives as it navigates the global COVID-19 pandemic.

The WilmerHale team representing WEX was led by Andrew Bonnes, Justin Ochs and Glenn Pollner, and included Julie Hogan-Rodgers, Andrew Langworthy, Jenny Moore and Heidi Treiber on the private placement transaction and Brandt Tierney, Meghan Muncey and Louise Luongo on the credit agreement amendment transaction.

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