Travelex completes process of buying back new money notes
Travelex today announced the completion of the process to buy back new money notes and stapled ordinary shares.
Travelex on 27 September 2023 announced the initiation of the process to buy back the Sterling new money notes issued by Travelex and the ordinary shares of Travelex International Limited (TIL) which are stapled to such Sterling Notes.
The Buybacks involved approximately £12 million of the £90 million which Travelex raised pursuant to the refinancing of its previous senior facilities agreement being utilised to have: (1) Travelex repurchase the Sterling Notes from each holder of Sterling Notes participating in the Buybacks pro rata to each participating holder’s holding of Sterling Notes; and (2) TIL repurchase the Stapled Shares at par value.