Company: PSEWF
Filing Date: 2025-03-04
Form Type: 20-F
Source: 0000950170-25-032340
Chunk: 0

Company: Paysafe Ltd
Filing Date: 2025-03-04
Form: 20-F
Item: Item 3
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 ITEM 3. KEY INFORMATION
A. [Reserved]
 B. Capitalization and Indebtedness
  The following section summarizes the terms of our principal indebtedness.
 
Credit Facilities
 
Current Debt Facilities

On June 28, 2021, Paysafe refinanced its former debt facilities by entering into a Senior Facilities Agreement (the “2021 Senior Facilities”) and issuing Senior Secured Notes (the “2021 Secured Notes”). The proceeds of these facilities and notes were used to repay the remaining former debt facilities:
As of December 31, 2024 and 2023, the 2021 Senior Facilities and 2021 Secured Notes consist of the following:
 •$305.0 million senior secured revolving credit facility (the “Revolving Credit Facility”), the maturity date of which is December 28, 2027; 
 •$1,108 million first lien term loan facility (the “USD First Lien Term Loan”) of which $844 million was outstanding as of December 31, 2024 and €710 million first lien term loan facility (the "EUR First Lien Term Loan") of which €596 million was outstanding at December 31, 2024 (the "EUR First Lien Term Loan" and, together with the USD First Lien Term Loan, the “First Lien Term Loan”), the maturity date of which is June 28, 2028;
 •$400.0 million Senior Secured Notes (the “USD Notes”) of which $337 million was outstanding at December 31, 2024 and €435 million Senior Secured Notes (the "EUR Notes") of which €421 million was outstanding at December 31, 2024 (the EUR Notes and, together with the USD Notes, the “Senior Secured Notes”), the maturity date of which is June 15, 2029.
 
In addition, the 2021 Senior Facilities provide that Paysafe Holdings II has the right at any time, subject to customary conditions, to request incremental term loans or incremental revolving credit commitments in an aggregate principal amount of up to (a) the greater of (1) $430.0 million and (2) an amount equal to 100% of Paysafe Holdings II’s trailing twelve-month consolidated EBITDA (as such term is defined in the credit agreement) at the time of determination plus (b) an amount equal to all voluntary prepayments, repurchases, redemptions and other retirements of the term loans under the credit