DailyPay, the leading On-Demand Pay platform and financial wellness solution, has announced the closing of a new US$195 million senior secured revolving credit facility, further strengthening the company’s capital position and providing greater financial flexibility to support long-term growth. JPMorgan Chase Bank, N.A. serves as administrative agent and sole bookrunner for the lender group.
Latham & Watkins LLP again represents DailyPay in latest transaction with a deal team led by partners Liz Oh and Haim Zaltzman, with counsels Jing Cao and Emily Yu, with associate Scott Natsuhara; on UK law matters by partner Hayden Teo, with associates James Szauer and Liam Feng; on tax matters by partner Elena Romanova, with associate Sam Yang and assistance from George Yu; on ERISA matters by partner Julie Crisp; on securitization matters with partner Loren Finegold, with associate Alex Tiller; and on derivatives by partner Reza Mojtabaee-Zamani, with associate Claire Solimine.
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