Travelex Extends Notes Maturity and Reduces Interest Rate

Travelex Issuerco 2 Plc has announced its Q4 2024 results and a significant financial development. The company revealed that all four major shareholders, representing over 95% ownership, have agreed in principle to extend the maturity of the New Money Notes to March 2029. Additionally, the interest rate on these Notes will be significantly reduced from 12.5% to 3%. This adjustment aims to enhance the financial structure of the company.

The legal formalities for this decision are in progress, with finalization expected within weeks. This change reflects the shareholders' confidence in Travelex's long-term strategy and stability. The company's Q4 results can be accessed through the London Stock Exchange's provided link.