REPAY Completes $100 Million Debt Refinancing Led by SunTrust
3 October 2017
ATLANTA, October 3, 2017 -- Realtime Electronic Payments (REPAY), a full-service provider of advanced payment technology products and electronic transaction processing services for a variety of integrated end markets, today announced the successful closing of a $100 million credit facility arranged by a syndicate of banks led by SunTrust Bank.
The refinancing strengthens and expands REPAY’s balance sheet and provides additional flexibility to pursue strategic investments and support growth.
“We are extremely pleased to complete this financing with our syndicate group, further enhancing our financial and operational flexibility. This transaction is an acknowledgement of the growth potential of our business and will allow us to continue executing on our strategic initiatives,” said John Morris, Chief Executive Officer and Co-Founder of REPAY.
Corsair Capital LLC, one of the longest-standing private equity firms focused on the financial services industry, acquired a control stake in REPAY in 2016.
Established in 2006, Realtime Electronic Payments (REPAY) is a full-service provider of electronic transaction processing services for a variety of integrated end markets, offering a suite of advanced payment technology products that include credit and debit cards, ACH processing, consumer-facing payment portals, bank account verification and electronic bill payment. For more information, visit www.repayonline.com.
See the full press release here.