Travelex today announces that the additional new money notes which were issued as part of the £25 million fundraising that concluded on 1 June 2021 were admitted to trading on the Vienna MTF (as operated by the Vienna Stock Exchange) on 3 June 2021. The Additional New Money Notes have a face value amount of approximately £27.5 million.
The Additional New Money Notes have the same terms and conditions and ISIN (XS2248458049) as the existing new money notes.
In May, Travelex revised downwards its earnings forecast for 2021. The company announces that it expects the Travelex group’s EBITDA for the financial year to 31 December 2021 to be in the range of £15 – £25 million below the financial forecast announced on 8th February 2021.
The shortfall predominantly relates to the slower than expected easing of travel restrictions particularly in Asia and ANZ regions where conservative government policies and closed borders are driving a six-month delay in recovery. UK and European markets are expected to recover first but still with a delay of up to three months against previous expectations.