SOUTH PORTLAND, Maine--(BUSINESS WIRE)--Jun. 12, 2017--
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.
View source version on businesswire.com: http://www.businesswire.com/news/home/20170612005359/en/
Source: WEX Inc.
News media:
WEX Inc.
Jessica Roy, 207-523-6763
Jessica.Roy@wexinc.com
or
Investors:
WEX
Inc.
Steve Elder, 207-523-7769
Steve.Elder@wexinc.com