Bondholders in the troubled foreign exchange provider Travelex are pressing its syndicate of banks to enter talks about a restructuring after an emergency auction of the business stalled.
Sky News has learnt that a group of debt investors which are being advised by the investment bank PJT Partners are pushing Travelex’s banks – which include Barclays and Goldman Sachs – to negotiate a potential deal.
The currency exchange retailer’s banks, which are being advised by FTI Consulting, are owed about 90m by the company, while the bondholders are due to be repaid roughly 360m (322m).
Travelex has been plunged into crisis by a cyber-attack at the start of the year that disrupted its serv…
Read the full article at: https://news.sky.com/story/travelex-heads-for-restructuring-as-sale-process-stalls-12005283