Repay Holdings expands senior secured revolver to $185 million

By Marisa Wong

Los Angeles, Jan. 3 – Repay Holdings Corp. and some subsidiaries entered into a second amendment on Dec. 29 to its amended and restated revolving credit agreement dated Feb. 3, 2021 with Truist Bank as administrative agent to increase capacity under the revolving credit facility, according to an 8-K filed Monday with the Securities and Exchange Commission.

Prior to the amendment, the credit agreement consisted of a $125 million senior secured revolver in favor of subsidiary Hawk Parent Holdings LLC. The amendment upsizes the facility capacity to $185 million in favor of Hawk Parent.

The amendment also makes some clarifying changes in connection with Repay’s acquisition of Payix Inc. and in connection with subsequent permitted acquisitions.

The facility is guaranteed by the company and some of its subsidiaries and is secured by a first priority security interest in substantially all tangible and intangible property of the company and some subsidiaries.

Through its subsidiaries, Atlanta-based Repay provides financial technology and payment processing solutions such as credit and debit processing, automated clearing house processing and instant funding.

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