secwatch.observer — SEC 8-K summary
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Issuer:     WEX Inc. (WEX)
CIK:        0001309108
Form:       8-K
Filed at:   2025-03-06T23:59:59+00:00
Accession:  0001140361-25-007445
Event type: debt
Sentiment:  neutral
Materiality: 0.55
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

WEX closes $550M 6.500% notes due 2033 and $450M term loan, funds up to $750M share buyback
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- $550M aggregate principal of 6.500% senior unsecured notes due 2033 issued; interest payable semi-annually.
- $450M incremental Term Loan B-3 facility at SOFR + 1.75%, maturing March 6, 2032.
- Proceeds to fund tender offer for up to $750M of common stock, repay ~$250M revolver, and pay fees.
- Seventh Amendment raises restricted payments leverage ratio covenant from 2.75x to 3.50x.
- Notes are unsecured and effectively subordinated to existing secured indebtedness.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1309108/000114036125007445/0001140361-25-007445-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1309108/000114036125007445/ny20044175x8_8k.htm
  HTML page:      https://secwatch.observer/filing/0001140361-25-007445

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