Confirmation of completion of debt restructuring


6 Aug 2020


Travelex Financing Plc (in administration)

Completion of debt restructuring

6 August 2020

 

FOR IMMEDIATE RELEASE

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION AS DEFINED IN ARTICLE 7 OF THE MARKET ABUSE REGULATION NO. 596/2014 ("MAR"). UPON THE PUBLICATION OF THIS ANNOUNCEMENT, THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.

 

Travelex Financing Plc (in administration) (“Travelex”)

Completion of Travelex debt restructuring

Further to its announcement earlier today, Travelex confirms that completion of the Restructuring has now occurred.

Following the appointment of the joint administrators, the following transactions were executed:

  • Certain of the business and assets of TBL have been sold to Travelex Currency Services Limited
  • Certain of the business and assets of TUK have been sold to Travelex Cloud Services Limited to operate the ATM estate
  • Certain of the assets of TUK have been sold to Travelex Foreign Coin Services Limited (“TFCS”) to preserve the optionality to review and reshape the UK retail operations if and when global travel restrictions are lifted and passenger numbers increase
  • It should be noted that TFCS has not been sold to New Travelex but will continue to trade under the old Travelex corporate structure as a subsidiary of TL (in administration)
  • Certain of the business and assets of TL, TGI and TUK have been sold to TACO

The above transactions were executed in accordance with the Lock Up Agreement.

 

Enquiries:

Dylan Berthier – External Affairs
press@travelex.com

END



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