Remitly expands revolving credit facility by $75M to $325M with new lenders

Remitly Global, Inc.

Amendment No. 2 increases revolving commitments by $75M, total now $325M.
New lenders: Wells Fargo Bank ($50M) and Standard Chartered Bank ($25M).
Maturity date remains September 13, 2026 unchanged.
Proceeds for working capital and general corporate purposes.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Remitly Global, Inc. amended Amendment No. 2 and Joinder Agreement with JPMorgan Chase Bank, N.A. valued at $75,000,000 (effective 2023-12-20).

Action: amendment
Agreement: credit facility
Counterparty: JPMorgan Chase Bank, N.A.
Value: $75,000,000
Effective: 2023-12-20

Exact text from the filing

On December 20, 2023, Remitly Global, Inc. and Remitly, Inc. as borrowers and as guarantors (collectively, the “Company”) entered into the Amendment No. 2 and Joinder Agreement (the “Amendment No. 2”) which amends the Revolving Credit and Guaranty Agreement dated as of September 13, 2021 (as amended by the Amendment No. 1 dated as of June 26, 2023 and as further amended by Amendment No. 2, the “Credit Agreement”) with JPMorgan Chase Bank, N.A. as administrative agent and the lenders party thereto.

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Source: SEC EDGAR

accession 0000950103-23-017845

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