JP Morgan Chase Bank enters into credit agreement with WeCommerce Holdings Ltd.
April 6, 2021
80.00 Million USD
On April 6, 2021, the syndicate of lenders led by JP Morgan Chase Bank, N.A. ("Chase Bank") entered into a credit agreement with WeCommerce Holdings Ltd ("WeCommerce"). The credit facilities consisted of a $20 million senior revolving credit facility, a $40 million senior term loan, and a $20 million senior delayed draw term loan. A portion of the credit facilities were used by WeCommerce to acquire substantially all of the assets of Stamped.io Pte. Ltd. ("Stamped") for up to $110 million. WeCommerce plans to use the remaining proceeds of the credit facilities to finance working capital needs and future acquisitions, and for general corporate purposes.
Chase Bank is an American national bank that constitutes the consumer and commercial banking subsidiary of JPMorgan Chase.
McCarthy Tétrault LLP advised the syndicate of lenders with a team led by James-Scott Lee including Audrey Bouffard-Nesbitt and Sydney Hamilton (Financial Services).