Travelex Manages to Raise Additional £35 Million

Following the announcement made by Travelex on 13 December 2021, Travelex is pleased to announce that it has successfully concluded the raising of £35 million of additional funding following the issuance of an additional number of new money notes (in a face value amount of approximately £37.2 million) by the company (the “Additional New Money Notes”) and the connected issuance of ordinary shares in Travelex Topco Limited, which are stapled to the Additional New Money Notes.

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

Earlier last year, Travelex has released its half-yearly financials for the first six months of 2021, ending on June 30. It reported a significant drop in its revenue, driven by public health policy and travel restrictions.

According to the figures, the company generated total revenue of £54.9 million for H1 2021 in the six month period, which is 21% of the result reported for the same period in 2019 and 45% lower than the result reported for the same period in 2020.