Expensify Enters New Letter of Credit Facility and Security Agreement with CIBC, Replacing Prior Loan Agreement

Reuters10-16

<a href="https://laohu8.com/S/EXFY">Expensify</a> Enters New Letter of Credit Facility and Security Agreement with CIBC, Replacing Prior Loan Agreement

Expensify Inc. has entered into a new Letter of Credit Facility and Security Agreement with the Canadian Imperial Bank of Commerce (CIBC) and other lenders, replacing a previously terminated revolving credit facility. The new agreement, signed on October 9, 2025, allows for the issuance of additional irrevocable standby letters of credit and grants CIBC a security interest in substantially all of Expensify's assets, including intellectual property. This agreement governs the terms of an existing $7.5 million standby letter of credit and contains customary covenants, representations, and default provisions. As of the agreement date, no amounts had been drawn on the letter of credit.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Expensify Inc. published the original content used to generate this news brief via EDGAR, the Electronic Data Gathering, Analysis, and Retrieval system operated by the U.S. Securities and Exchange Commission (Ref. ID: 0001476840-25-000131), on October 15, 2025, and is solely responsible for the information contained therein.

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ID: 0001476840-25-000131), on October 15, 2025, and is solely responsible for the information contained therein.</span></em>\n</div></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"EXFY","symbol_name":"Expensify","start_time":0,"source_url":"https://api.refinitiv.com/data/news/v1/stories/urn:newsml:reuters.com:20251015:nNDL9tCVmq:1","article_id":"2575975196","we_media_id":"1032215980","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2575975196","pubTimestamp":1760561259,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Reuters","introduction":"Reuters.com brings you the latest news from around the world, covering breaking news in markets, business, politics, entertainment and technology","home_visible":1,"id":"1032215980","head_image":"https://community-static.tradeup.com/news/4567337cbdf294b657b1fa87c5488b48"},"summary":"Expensify Inc. has entered into a new Letter of Credit Facility and Security Agreement with the Canadian Imperial Bank of Commerce  and other lenders, replacing a previously terminated revolving credit facility. 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Expensify Inc","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"EXFY":"Expensify","BK4023":"应用软件"},"translate_title":"Expensify与CIBC签订新的信用证融资和担保协议，取代之前的贷款协议","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"EXFY":0.9},"content_text":"Expensify Enters New Letter of Credit Facility and Security Agreement with CIBC, Replacing Prior Loan Agreement\n    \n\n        Expensify Inc. has entered into a new Letter of Credit Facility and Security Agreement with the Canadian Imperial Bank of Commerce (CIBC) and other lenders, replacing a previously terminated revolving credit facility. The new agreement, signed on October 9, 2025, allows for the issuance of additional irrevocable standby letters of credit and grants CIBC a security interest in substantially all of Expensify's assets, including intellectual property. This agreement governs the terms of an existing $7.5 million standby letter of credit and contains customary covenants, representations, and default provisions. As of the agreement date, no amounts had been drawn on the letter of credit.\n      \n\nDisclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Expensify Inc. published the original content used to generate this news brief via EDGAR, the Electronic Data Gathering, Analysis, and Retrieval system operated by the U.S. Securities and Exchange Commission (Ref. 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