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Travelex gets consents, waiver under 8% notes, floaters due 2018
By Jennifer Chiou
New York, June 19 – Travelex Financing plc announced that it has obtained the needed consents to amend the indenture of its £200 million of 8% senior secured notes due 2018 and £150 million of floating-rate senior secured notes due 2018.
The company also obtained a waiver for certain provisions of the indenture and has entered into a supplemental indenture.
According to a filing with the London Stock Exchange, the proposed amendments and waivers were sought in connection with the acquisition of 100% of the shares in Travelex Holdings Ltd. by UTX Holdings Ltd., a company wholly owned by BRS Ventures & Holdings Ltd.
Travelex said it has paid 50% of the consent payment for the proposed waivers, and the remaining 50% will be payable when the acquisition is complete.
The solicitation agent was BofA Merrill Lynch (attn: John Cavanagh at 44 20 7995 3715).
The tabulation agent and information agent was Deutsche Bank AG, London Branch (44 20 7547 5000 or xchange.offer@db.com).
The London-based foreign exchange company plans to use the proceeds to refinance debt.
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