{"id":816807,"date":"2025-02-24T10:43:25","date_gmt":"2025-02-24T15:43:25","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/corpay-upsizes-credit-facility-by-750-million\/"},"modified":"2025-02-24T10:43:25","modified_gmt":"2025-02-24T15:43:25","slug":"corpay-upsizes-credit-facility-by-750-million","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/corpay-upsizes-credit-facility-by-750-million\/","title":{"rendered":"Corpay\u00ae Upsizes Credit Facility by $750 million"},"content":{"rendered":"

<\/p>\n

Corpay\u00ae<\/sup> Upsizes Credit Facility by $750 million<\/b><\/p>\n

Increases Liquidity to Execute Company\u2019s 2025 Capital Plan<\/i><\/p>\n

ATLANTA–(BUSINESS WIRE<\/a>)–
\nCorpay, Inc. (NYSE: CPAY), a global S&P 500 corporate payments company today announced that it successfully closed on an amendment to its Term Loan B credit facility that resulted in an increase of $750 million. The transaction is leverage neutral, and the interest rate and maturity remain consistent with the existing credit facility. Initially, the Company will use the proceeds to pay down its revolver balance, resulting in approximately $1.5 billion of undrawn capacity on the revolver.<\/p>\n

\n\u201cWe\u2019re very pleased with the broad participation and oversubscribed demand for our credit facility, which reflects the broad-based confidence in Corpay\u2019s durable earnings power,\u201d said Ron Clarke, chairman and chief executive officer, Corpay, Inc. \u201cOur balance sheet is in great shape to execute our capital plan as we look to expand our Corporate Payments business.\u201d<\/p>\n

\n\u201cOur Term Loan B credit facility reflects some of the tightest credit spreads amongst the BB+ corporates, which reflects our strong balance sheet and the significant cash flows Corpay consistently generates,\u201d said Tom Panther, chief financial officer, Corpay, Inc. \u201cOur outlook for EBITDA and free cash flow in 2025 enables us to execute our capital plan without increasing our leverage ratio.\u201d<\/p>\n

\nBoth Moody\u2019s and S&P Global maintained their credit ratings on Corpay of Ba1 and BB+, respectively, and maintained a stable credit outlook.<\/p>\n

\nBank of America, N.A. is the Administrative Agent and BofA Securities, Inc., PNC Capital Markets, LLC, TD Securities (USA) LLC, Wells Fargo Securities, LLC, MUFG Bank, LTD, Fifth Third Bank, National Association, Barclays Bank PLC, BMO Capital Markets Corp., Mizuho Bank, LTD., The Bank of Nova Scotia, Citizens Bank, N.A., Capital One, National Association, Citibank, N.A., and JPMorgan Chase Bank, N.A. served as Joint Lead Arrangers and Joint Bookrunners.<\/p>\n

About Corpay<\/b><\/p>\n

\nCorpay (NYSE: CPAY), the Corporate Payments Company, is a global S&P 500 provider of commercial cards (e.g, business cards, fleet cards, virtual cards) and AP automation solutions (e.g., invoice and payments automation, cross border payments) to businesses worldwide. Our solutions result in our customers controlling purchases, mitigating fraud, and ultimately spending less. To learn more visit www.corpay.com<\/a><\/p>\n

\"\"<\/p>\n

View source version on businesswire.com: <\/span>https:\/\/www.businesswire.com\/news\/home\/20250224569747\/en\/<\/a><\/span><\/p>\n

\nInvestor Relations
\n
Jim Eglseder, 770-417-4697
\n
Jim.Eglseder@corpay.com
\n<\/a><\/p>\n

Media Relations
\n
Chad Corley, 770-729-5021
\n
Chad.Corley@corpay.com<\/a><\/p>\n

KEYWORDS:<\/b> Georgia United States North America<\/p>\n

INDUSTRY KEYWORDS:<\/b> Professional Services Payments Business Technology Finance Fintech Consulting<\/p>\n

MEDIA:<\/b><\/p>\n\n\n\n\n
Logo<\/b><\/font><\/td>\n<\/tr>\n
\"Logo\"<\/td>\n<\/tr>\n
<\/font><\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"

Corpay\u00ae Upsizes Credit Facility by $750 million Increases Liquidity to Execute Company\u2019s 2025 Capital Plan ATLANTA–(BUSINESS WIRE)– Corpay, Inc. (NYSE: CPAY), a global S&P 500 corporate payments company today announced that it successfully closed on an amendment to its Term Loan B credit facility that resulted in an increase of $750 million. The transaction is leverage neutral, and the interest rate and maturity remain consistent with the existing credit facility. Initially, the Company will use the proceeds to pay down its revolver balance, resulting in approximately $1.5 billion of undrawn capacity on the revolver. \u201cWe\u2019re very pleased with the broad participation and oversubscribed demand for our credit facility, which reflects the broad-based confidence in Corpay\u2019s durable earnings power,\u201d said Ron … <\/p>\n

Continue reading “Corpay\u00ae Upsizes Credit Facility by $750 million”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-816807","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nCorpay\u00ae Upsizes Credit Facility by $750 million - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/corpay-upsizes-credit-facility-by-750-million\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Corpay\u00ae Upsizes Credit Facility by $750 million - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"Corpay\u00ae Upsizes Credit Facility by $750 million Increases Liquidity to Execute Company\u2019s 2025 Capital Plan ATLANTA–(BUSINESS WIRE)– Corpay, Inc. (NYSE: CPAY), a global S&P 500 corporate payments company today announced that it successfully closed on an amendment to its Term Loan B credit facility that resulted in an increase of $750 million. The transaction is leverage neutral, and the interest rate and maturity remain consistent with the existing credit facility. Initially, the Company will use the proceeds to pay down its revolver balance, resulting in approximately $1.5 billion of undrawn capacity on the revolver. \u201cWe\u2019re very pleased with the broad participation and oversubscribed demand for our credit facility, which reflects the broad-based confidence in Corpay\u2019s durable earnings power,\u201d said Ron … Continue reading "Corpay\u00ae Upsizes Credit Facility by $750 million"\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/corpay-upsizes-credit-facility-by-750-million\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2025-02-24T15:43:25+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&sty=20250224569747r1&sid=flmnd&distro=nx&lang=en\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/corpay-upsizes-credit-facility-by-750-million\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/corpay-upsizes-credit-facility-by-750-million\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"Corpay\u00ae Upsizes Credit Facility by $750 million\",\"datePublished\":\"2025-02-24T15:43:25+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/corpay-upsizes-credit-facility-by-750-million\\\/\"},\"wordCount\":430,\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/corpay-upsizes-credit-facility-by-750-million\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/cts.businesswire.com\\\/ct\\\/CT?id=bwnews&sty=20250224569747r1&sid=flmnd&distro=nx&lang=en\",\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/corpay-upsizes-credit-facility-by-750-million\\\/\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/corpay-upsizes-credit-facility-by-750-million\\\/\",\"name\":\"Corpay\u00ae Upsizes Credit Facility by $750 million - 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