Travelex €360 million 8% high yield issue

Overview:

• Travelex has issued €360 million in new senior secured notes and entered into a new £90 million revolving credit facility.
• The 8% notes are due in 2022.
• The notes will be offered only to qualified institutional buyers pursuant to Rule 144A/Reg S.
• JPMorgan, Barclays, Bank of America Merrill Lynch, Deutsche Bank and Goldman Sachs acted as bookrunners.
• Travelex is a market leading independent foreign exchange business. Its business operates across 30 countries and covers the entire value chain of the retail foreign exchange industry.

Katrin Kostadinova - Deal analyst