Loan & DebtMay 22, 2026, 04:18 PM
Corpay Upsizes Credit Facility to $3.7B, Extends Maturity
AI Summary
Corpay, Inc. completed the eighteenth amendment to its Credit Agreement, significantly increasing its revolving credit facility by $0.9 billion to $3.7 billion and Term Loan A by $0.4 billion to $3.3 billion, both with extended 5-year maturities until May 2031. The company also increased Term Loan B-6 by $2.05 billion to $2.95 billion, maturing in November 2032. This refinancing enhances liquidity by over $1 billion, lowers USD interest rates by 10 basis points, and is expected to result in interest expense savings.
Key Highlights
- Revolving credit facility increased by $0.9 billion to $3.7 billion.
- Term Loan A increased by $0.4 billion to $3.3 billion.
- Term Loan B-6 increased by $2.05 billion to $2.95 billion.
- Maturity of revolving credit facility and Term Loan A extended to May 21, 2031.
- Term Loan B-6 has a maturity date of November 5, 2032.
- USD interest rates are 10 basis points lower than existing facilities.
- Repaid Term Loan B-5 in full using $3.05 billion from new facilities.
- Increased liquidity by over $1 billion.
Price Impact
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