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Truist Bank Agents $125MM Revolving Credit Facility for REPAY

February 04, 2021, 08:10 AM
Filed Under: Specialty Industries

Repay Holdings closed a new undrawn $125 million senior secured revolving credit facility. Truist Securities acted as lead arranger, and Truist Bank will serve as the administrative agent for the new revolving credit facility.

The new revolving credit facility replaces the Company’s prior senior secured facilities, which included an undrawn $30 million revolving credit facility. The Company paid off all term loans outstanding under its prior credit agreement following the closing last month of its concurrent offerings of convertible notes and Class A common stock.

“We are pleased with the successful completion of this credit facility, which, in addition to the available proceeds from our concurrent offerings last month of convertible notes and Class A common stock, positions us well for our future acquisition opportunities,” said John Morris, CEO of REPAY. “Our M&A pipeline remains very active, with many high growth targets in large verticals that are underserved from a payment perspective.”

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