Remitly increases revolver commitments to $325 million

By William Gullotti

Buffalo, N.Y., Dec. 22 – Remitly, Inc. and Remitly Global, Inc. amended its revolving credit and guaranty agreement with JPMorgan Chase Bank, NA as administrative agent on Dec. 20, according to an 8-K filing with the Securities and Exchange Commission.

The facility commitments increased to $325 million. The $60 million sublimit for letters of credit remained unchanged.

The maturity date for the revolver, initially signed Sept. 13, 2021, remains Sept. 13, 2026.

In addition to serving as administrative agent, JPMorgan is also collateral agent, sole bookrunner and a joint lead arranger along with Silicon Valley Bank and Goldman Sachs Lending Partners LLC.

The online money transfer services company is based in Seattle.

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