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Travelex calls floaters due 2018 at par, 8% notes due 2018 at 102
By Susanna Moon
Chicago, April 24 – Travelex Financing plc issued a conditional redemption notice for its £109.44 million principal amount of outstanding floating-rate senior secured notes due 2018 and £190.56 million principal amount of outstanding 8% senior secured notes due 2018.
The notes will be redeemed on May 5 if the financing condition is met, according to the company notice.
The redemption price will be 102% for the 8% notes, or £1,040.89 per £1,000 principal amount including accrued interest to the redemption date.
For the floaters, the price will be par plus accrued interest, or £1,000.41 per £1,000 of floaters assuming a rate of 6.3571%.
The paying agent is Deutsche Bank AG, London Branch. The trustee is Deutsche Trustee Co. Ltd.
The call is contingent on the closing of new senior secured notes with enough proceeds to fund the repurchases.
Travelex is a London-based foreign exchange company.
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