WEX Inc. Announces Successful Offering of $550 Million Senior Unsecured Notes
PORTLAND, Maine – WEX Inc. (NYSE: WEX), a leading global commerce platform, recently announced the successful completion of a private offering of senior unsecured notes. The offering, which was initially planned for $550 million in aggregate principal amount, was upsized to accommodate higher demand from investors.
Details of the Offering
The new 6.500% senior unsecured notes due 2033 (the “Notes”) were priced at 100.0% of the principal amount. The net proceeds from the offering are expected to be approximately $541.3 million, after deducting the underwriting discount and estimated offering expenses.
Impact on WEX
The successful offering will provide WEX with additional financial flexibility to support its business operations and growth initiatives. The Company intends to use the net proceeds from the offering for general corporate purposes, which may include repaying existing debt, investing in strategic initiatives, and for other general corporate purposes.
Impact on the World
The offering is a positive sign for the financial markets and the corporate bond sector, indicating strong investor demand for high-quality issuers like WEX. The successful placement of the notes also demonstrates the Company’s creditworthiness and financial strength.
Additional Information
- The offering was made only to qualified institutional buyers pursuant to Rule 144A under the Securities Act, and to certain non-U.S. persons in offshore transactions in reliance on Regulation S under the Securities Act.
- The Notes have not been registered under the Securities Act or any state securities laws, and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.
Conclusion
WEX Inc.’s successful offering of $550 million in senior unsecured notes is a testament to the Company’s financial strength and the confidence investors have in its business strategy. The proceeds from the offering will provide WEX with the flexibility to pursue growth opportunities and support its ongoing business operations. The offering also underscores the robust demand for high-quality investments in the corporate bond market.
For more information about WEX Inc. and its business, please visit the Company’s website at www.wexinc.com.
