Business
International Money Express Increases Revolving Credit Facility to $220 Million
MIAMI, April 19, 2023 (GLOBE NEWSWIRE) -- International Money Express, Inc. (NASDAQ: IMXI), ("Intermex" or the "Company"), a leading money remittance services
About this update from International Money Express, Inc.
[{"type":"text","content":"MIAMI, April 19, 2023 (GLOBE NEWSWIRE) -- International Money Express, Inc. (NASDAQ: IMXI), (\"Intermex\" or the \"Company\"), a leading money remittance services company, today announced the Company has amended its revolving credit facility under its syndicated credit agreement with KeyBank National Association as administrative agent to increase the maximum borrowing amount to $220 million, up from $150 million. Loans under the amended revolving credit facility, maturing in 2026, are under the same terms and bear the same interest rates as prior to the amendment. In conjunction with the increased revolver capacity, the amendment also provides the Company with an additional $70 million uncommitted incremental capacity, which may be utilized in the future for additional term or revolving loans. \"The upsized revolver and additional $70 million uncommitted feature further enhance the financial flexibility of the Company, providing more room to grow organically and through M&A, and allow us to continue to be opportunistic with share buybacks,” said Andras Bende, Chief Financial Officer. About International Money Express, Inc.Founded in 1994, Intermex applies proprietary technology enabling consumers to send money from the United States, Canada, and Europe to more than 60 countries. The Company provides the digital movement of money through a network of agent retailers in the United States, Canada, and Europe; Company-operated stores; mobile app; and via the Company's website. Transactions are fulfilled and paid through thousands of retail and bank locations worldwide. Intermex is headquartered in Miami, Florida, with international offices in Puebla, Mexico, Guatemala City, Guatemala, and Madrid, Spain. For more information about Intermex, please visit www.intermexonline.com. Safe Harbor Compliance Statement for Forward-Looking Statements This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, as amended, which reflect our current views concerning certain events that are not historical facts but could affect our future performance, including but without limitation, statements regarding our plans, objectives, financial performance, business strategies, projected results of operations, and expectations for the Company. These statements may include and be ide...