secwatch.observer — SEC 8-K summary
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Issuer:     WEX Inc. (WEX)
CIK:        0001309108
Form:       8-K
Filed at:   2023-08-14T23:59:59+00:00
Accession:  0001628280-23-029176
Event type: other_material
Sentiment:  neutral
Materiality: 0.70
Item codes: 1.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

WEX repurchases all $310M convertible notes from Warburg Pincus for $370M cash
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- Repurchased $310M aggregate principal of 6.50% Convertible Senior Notes due 2027 from WP Bronco Holdings (Warburg Pincus affiliate).
- Purchase price of ~$370M includes accrued interest; funded by borrowings under existing credit facility.
- Repurchased notes were convertible into 1.55M shares of common stock; notes canceled.
- Concurrently amended credit agreement to allow Bank Regulated Subsidiaries to use Federal Reserve's Bank Term Funding Program.
- Second Amendment excludes BTFP indebtedness from consolidated funded debt for leverage ratio calculation.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1309108/000162828023029176/0001628280-23-029176-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1309108/000162828023029176/wex-20230810.htm
  HTML page:      https://secwatch.observer/filing/0001628280-23-029176

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