WilmerHale Represents WEX Inc. in Term Loan Repricing

WilmerHale Represents WEX Inc. in Term Loan Repricing

News

On January 17, 2018, WEX Inc. (NYSE:WEX), a leading provider of corporate payment solutions, announced a successful repricing of its secured term loans under its existing credit facility. The lenders have agreed to an amendment that reduces the applicable interest rate margin at current levels for LIBOR borrowings by 50 basis points for WEX's existing tranche B term loans, as well as the incurrence of an additional $153 million of tranche term B loans. The net proceeds from this transaction will be used to reduce borrowings under WEX's existing revolver. Following the repricing, the applicable interest rate margin for the tranche B term loans will be set at 2.25% for LIBOR borrowings.

The WilmerHale team representing WEX included Jamie Class, Justin Ochs, John Sigel, Ellie Guadiana and Alyce Chen.

WEX's press release is available at www.wexinc.com