Travelex Manages to Raise £25M

Travelex, a market leading specialist provider of foreign exchange, announced that it has completed additional financing of £25 million through issuing an additional number of new money notes (in a face value amount of approximately £27.5 million) and the related issuance of ordinary shares in its subsidiary, Travelex Topco Limited.

The Additional New Money Notes have the same terms and conditions and ISIN (XS2248458049) as the existing new money notes. An application will immediately be made for the Additional New Money Notes to be admitted to trading on the Vienna MTF (as operated by the Vienna Stock Exchange).

In May, Travelex lowered its earnings estimate for 2021 due to the travel restrictions especially 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.

The FX provider expected its EBITDA for the financial year to 31 December 2021 to be within the range of £15 - £25 million, below the number announced on 8th February 2021.

Besides, Travelex has successfully closed the raising of £20 million in February.