Market Overview

WEX Inc. Announces Plans for Potential Debt Repricing and Maturity Extension

Share:

WEX Inc. (NYSE:WEX), a leading provider of corporate payment solutions
(the "Company"), today announced that it is providing certain
prospective lenders information for purposes of considering potential
amendments to its credit facility, including increasing the commitments
under the tranche A term loan and revolving credit loans by up to $25
million and $150 million, respectively, extending the maturity date of
the Loans, reducing the interest rate applicable to revolving credit
loans, modifying the leverage ratios for determining the applicable
interest rate on the tranche A term loans, and modifying certain
financial covenants (collectively, the "Potential Amendment and
Extension"). There can be no assurance that the Company will be able to
complete any such transaction, which would be subject to market and
other customary conditions.

About WEX Inc.

Powered by the belief that complex payment systems can be made simple,
WEX Inc. (NYSE:WEX) is a leading provider of payment processing and
business solutions across a wide spectrum of sectors, including fleet,
travel and healthcare. WEX operates in more than 10 countries and in
more than 20 currencies through more than 3,500 associates around the
world. WEX fleet cards offer 11.5 million vehicles exceptional payment
security and control; purchase volume in its travel and corporate
solutions grew to $30.3 billion in 2017; and the WEX Health financial
technology platform helps 300,000 employers and more than 25 million
consumers better manage healthcare expenses. For more information, visit www.wexinc.com.

Safe Harbor Statement

Certain matters discussed in this press release are "forward-looking
statements" intended to qualify for the safe harbors from liability
established by the Private Securities Litigation Reform Act of 1995.
These forward-looking statements can generally be identified as such by
the context of the statements, including words such as "believe,"
"expect," "anticipate," "plan," "may," "would," "intend," "estimate,"
"guidance" and other similar expressions, whether in the negative or
affirmative, although not all forward-looking statements contain such
words. These forward-looking statements are based on current
expectations, estimates, forecasts and projections about the industry
and markets in which the Company operates and management's beliefs and
assumptions. There can be no assurance that the Company will be able to
complete the Potential Amendment and Extension. The Company cannot
guarantee that it actually will achieve the financial results, plans,
intentions, expectations or guidance disclosed in the forward-looking
statements made. Such forward-looking statements involve a number of
risks and uncertainties, any one or more of which could cause actual
results to differ materially from those described in such
forward-looking statements. Such risks and uncertainties include or
relate to, among other things: the effects of general economic
conditions on fueling patterns as well as payment and transaction
processing activity; the impact of foreign currency exchange rates on
the Company's operations, revenue and income; changes in interest rates;
the impact of fluctuations in fuel prices; the effects of the Company's
business expansion and acquisition efforts; potential adverse changes to
business or employee relationships, including those resulting from the
completion of an acquisition; competitive responses to any acquisitions;
uncertainty of the expected financial performance of the combined
operations following completion of an acquisition; the ability to
successfully integrate the Company's acquisitions; the ability to
realize anticipated synergies and cost savings; unexpected costs,
charges or expenses resulting from an acquisition; the Company's failure
to successfully operate and expand ExxonMobil's European and Asian
commercial fuel card programs; the failure of corporate investments to
result in anticipated strategic value; the impact and size of credit
losses; the impact of changes to the Company's credit standards;
breaches of the Company's technology systems or those of third-party
service providers and any resulting negative impact on the Company's
reputation, liabilities or relationships with customers or merchants;
the Company's failure to maintain or renew key agreements; failure to
expand the Company's technological capabilities and service offerings as
rapidly as the Company's competitors; failure to successfully implement
the Company's information technology strategies and capabilities in
connection with its technology outsourcing and insourcing arrangements
and any resulting cost associated with that failure; the actions of
regulatory bodies, including banking and securities regulators, or
possible changes in banking or financial regulations impacting the
Company's industrial bank, the Company as the corporate parent or other
subsidiaries or affiliates; the impact of the Company's outstanding
notes on its operations; the impact of increased leverage on the
Company's operations, results or borrowing capacity generally, and as a
result of acquisitions specifically; the incurrence of impairment
charges if the Company's assessment of the fair value of certain
reporting units changes; the uncertainties of litigation; as well as
other risks and uncertainties identified in Item 1A of the Company's
Annual Report for the year ended December 31, 2017, filed on Form 10-K
with the Securities and Exchange Commission on March 1, 2018.

The Company's forward-looking statements do not reflect the potential
future impact of any alliance, merger, acquisition, disposition or stock
repurchases. The forward-looking statements speak only as of the date of
this press release and undue reliance should not be placed on these
statements. The Company disclaims any obligation to update any
forward-looking statements as a result of new information, future events
or otherwise.

View Comments and Join the Discussion!