WEX Inc. announced on February 27, 2025, that it had priced and upsized its previously announced offering of senior unsecured notes. The aggregate principal amount increased by $50 million, from $500 million to $550 million, with a 6.500% interest rate due 2033.
The notes will be guaranteed on a senior unsecured basis by WEX's wholly-owned domestic subsidiaries that guarantee its senior secured credit facilities. The offering is expected to close on March 6, 2025.
WEX intends to use the net proceeds, along with borrowings under a proposed $450 million incremental term loan B facility and cash on hand, to fund its $750 million tender offer, repay approximately $250 million outstanding under its revolving credit facilities, and for general corporate purposes.
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