Travelex Completes €360 Million Senior Secured Notes Offering and New Revolving Credit Facility
Simpson Thacher represented Travelex in connection with a Rule 144A and Regulation S offering by a finance subsidiary of €360 million aggregate principal amount of 8% Senior Secured Notes due 2022, as well as a new £90 million Revolving Credit Facility. The offering closed and the Revolving Credit Facility became available for drawing on May 5, 2017. Travelex used the net proceeds from the offering, as well as cash on balance sheet, to refinance outstanding indebtedness.