WEX Inc. Announces Plans for Potential Debt Repricing
June 12 2017 - 6:30AM
Business Wire
WEX Inc. (NYSE: WEX), a leading provider of corporate payment
solutions (the “Company”), today announced that it has invited
certain prospective lenders to a meeting scheduled for June 12,
2017 for the purpose of considering a potential repricing of the
Company’s existing $438 million Term Loan A and $1,191 million Term
Loan B (the “Potential Repricing”). There can be no assurance that
the Company will be able to complete such transaction, which is
subject to market and other customary conditions.
About WEX Inc.
WEX Inc. (NYSE: WEX) is a leading provider of corporate payment
solutions. From its roots in fleet card payments beginning in 1983,
WEX has expanded the scope of its business into a multi-channel
provider of corporate payment solutions representing more than 10
million vehicles and offering exceptional payment security and
control across a wide spectrum of business sectors. WEX serves a
global set of customers and partners through its operations around
the world, with offices in the United States, Australia, New
Zealand, Brazil, the United Kingdom, Italy, France, Germany,
Norway, and Singapore. WEX and its subsidiaries employ more than
2,700 associates. The Company has been publicly traded since 2005,
and is listed on the New York Stock Exchange under the ticker
symbol “WEX.” For more information, visit www.wexinc.com and follow
WEX on Twitter at @WEXIncNews.
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. These
forward-looking statements are based on current expectations,
estimates, forecasts and projections about the industry and markets
in which we operate and management’s beliefs and assumptions. There
can be no assurance that the Company will be able to complete the
Potential Repricing. We cannot guarantee that we actually will
achieve the financial results, plans, intentions, expectations or
guidance disclosed in the forward-looking statements made. Such
forward-looking statements, and all phases of our operations,
involve a number of risks and uncertainties, any one or more of
which could cause actual results to differ materially from those
described in our 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,
including Electronic Funds Source LLC's operations and employees;
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 our third-party
service providers and any resulting negative impact on our
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; 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 our assessment of the fair value of certain of our
reporting units changes; the uncertainties of litigation. There are
a number of other important risks and uncertainties that could
cause our actual results to differ materially from those indicated
by such forward-looking statements. These additional risks and
uncertainties include, without limitation, those detailed in Item
1A, “Risk Factors” in our Form 10-K for the fiscal year ended
December 31, 2016 and our quarterly report on Form 10-Q for the
three months ended March 31, 2017.
We undertake no obligation to update publicly any
forward-looking statements whether as a result of new information,
future events or otherwise, except as required by law.
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version on businesswire.com: http://www.businesswire.com/news/home/20170612005359/en/
News media:WEX Inc.Jessica Roy, 207-523-6763Jessica.Roy@wexinc.comorInvestors:WEX
Inc.Steve Elder, 207-523-7769Steve.Elder@wexinc.com
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