Simpson Thacher Represents Travelex on its £350 Million Senior Secured Notes Offering and Revolving Credit Facility
08.02.13
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Simpson Thacher represented a finance subsidiary of Travelex in connection with a Rule 144A and Regulation S offering of £200 million aggregate principal amount of its 8% Senior Secured Notes due 2018 and £150 million aggregate principal amount of its Senior Secured Floating Rate Notes due 2018. Additionally Simpson Thacher represented a subsidiary of Travelex in connection with its entry into a new £90 million Revolving Credit Facility. The transaction closed on August 1, 2013. Travelex used the net proceeds from this offering to refinance outstanding indebtedness.
Travelex was founded in 1976 and is the world’s leading independent retail foreign exchange business. As of March 31, 2013, its retail operations span 25 countries with operations in 17 of the world’s top 50 international airports by international passenger numbers.
The Simpson Thacher team included Mark Brod, Carol Daniel, Federico Fruhbeck and Adam Wollstein (Capital Markets); Kate Sinclair, Shahpur Kabraji and Fiona Swords (Credit); and Sean Fitzgerald (Tax).