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