Market Overview

WEX Inc. Completes Debt Repricing and Maturity Extension


WEX Inc. (NYSE:WEX), a leading provider of corporate payment solutions
(the "Company"), today announced a successful repricing of the Company's
revolving credit loans under its existing credit facility. The lenders
have agreed to an amendment that reduces the applicable interest rate
margin at current levels for both LIBOR borrowings and base rate
borrowing by 25 basis points for revolving credit loans. In addition,
the amendment (i) increases commitments under the Company's revolving
credit loans from $570,000,000 to $720,000,000, (iii) provides an
additional tranche A-3 term loan in the amount of $25,000,000 so that
outstanding tranche A-3 term loans increased from $409,500,000 to
$434,500,000, and (iv) makes certain other changes to the existing
Credit Agreement, including without limitation, (a) extending the
maturity date for tranche A-3 term loans and revolving credit loans (as
described below), (b) modifying the leverage ratios for determining the
applicable interest rate on the tranche A-3 term loans and the revolving
credit loans, and (c) modifying certain financial covenants (as
described below).

The new maturity date for revolving credit loans and tranche A-3 term
loans is July 1, 2023, subject to an earlier maturity date as described
in the amendment if the Company does not repay, redeem, discharge or
defease its tranche B-2 term loans and senior secured notes on or prior
to 90 days before their respective maturity dates. The amendment extends
by 1 year (from December 31, 2018 to December 31, 2019) the date on
which the consolidated leverage ratio test reduces from 5.00:1.00 to
4.50:1:00, extends by 2 years (from December 31, 2019 to December 31,
2021) the date on which the consolidated leverage ratio test reduces to
4.00:1.00, and adds an interim consolidated leverage ratio test of
4.25:1.00 for a one year period from December 31, 2020 through September
30, 2021. Additionally, the amendment modifies the definition of
specified acquisition to allow the Company to designate, one time, an
acquisition involving the payment of consideration in excess of
$300,000,000 and thereby permanently step up the leverage ratio by 0.5x.

Following the repricing, the applicable interest rate margin for the
revolving credit loans and tranche A-3 term loans will be set at 2.00%
for LIBOR borrowings and 1.00% for base rate borrowings.

In connection with the execution of the amendment, the Company paid
certain customary fees and expenses of Bank of America, N.A. in its
capacity as administrative agent, joint lead arranger and joint
bookrunner. MUFG Union Bank, N.A., SunTrust Robinson Humphrey, Inc., and
Citizens Bank, N.A., also acted as joint lead arrangers and joint
bookrunners, and Bank of Montreal acted as documentation agent.

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

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 benefits of the long
term loan repricing or maturity extension will be successful in
maximizing the Company's capital structure. 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.

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