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AI brief of an SEC Form 8-K · Remitly (RELY)

Remitly signs $550 million secured revolving credit facility, replacing $325 million facility

Neutral Impact 3 of 5 financing Written later

Remitly entered a new $550 million secured revolving credit agreement with JPMorgan Chase Bank as agent on June 24, 2025, replacing its prior $325 million facility. The company said it expects to use the facility mainly to support prefunding of customer flows in its remittance business and for general corporate purposes. The filing reports no borrowings were outstanding under the prior facility when it was terminated, and the new facility carries a maximum total net leverage covenant of 4.50 to 1.00.

Key points

  • New secured revolving facility totals $550 million, with a first priority lien on substantially all Loan Parties' assets.
  • Prior five-year $325 million credit agreement, dated September 13, 2021, was terminated on June 24, 2025, with no borrowings outstanding.
  • Covenant requires total net leverage ratio not greater than 4.50 to 1.00 at each fiscal quarter end.
  • Interest is based on Term SOFR, Daily Simple SOFR, or an alternate base rate.

The filing

CompanyRemitly (RELY)
Form8-K, current report
Filed with the SECJun 27, 2025, 4:33 PM ET
Accession number0000950103-25-008001

Items reported: 1.01 Material Definitive Agreement1.02 Termination of Material Agreement2.03 New Direct Financial Obligation

Read the filing on SEC.gov ↗

Written by AI on Nov 8, 2026, 1:00 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on June 27, 2025.

Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.