Evertec secures $185M loan to refinance revolving credit facility
What's the deal? Evertec, the Puerto Rico-based payments technology company, has added $185M in new debt through an incremental Term B loan. The company amended its existing credit agreement — originally dated December 1, 2022 — for the sixth time, executing the deal on May 18, 2026.
The proceeds were used to repay borrowings under Evertec's revolving credit facility. After the transaction, the total outstanding Term B loans under the amended credit agreement stand at $875M.
The new loans are fungible with Evertec's existing Term B loans, sharing the same interest rate, maturity, and other key terms.
Why now? By swapping revolving credit debt for term loan debt, Evertec locks in fixed borrowing terms and frees up capacity on its revolver — a flexible credit line companies typically keep available for operational needs or opportunistic moves. Clearing the revolver gives Evertec more financial flexibility going forward.
What could go wrong? The deal pushes Evertec's total Term B debt to $875M, a significant load for a company operating primarily in Latin America and the Caribbean. Rising interest rates or a slowdown in the payments sector could make servicing that debt more expensive or harder to manage. Six amendments to the same credit agreement since 2022 also suggest an active — and evolving — debt management strategy that investors will want to watch closely.
The signal: Evertec's refinancing comes as the late-growth payments infrastructure company continues to deepen its foothold across Latin America and the Caribbean — a region where digital payments adoption is still accelerating. Swapping revolver debt for term loans at this stage suggests management is positioning for sustained investment without sacrificing liquidity, a playbook increasingly common among established fintechs looking to fund expansion while credit markets remain accommodating.
Read more: stocktitan.net
