Travelex guides two-tranche high yield debut
Travelex, the UK bureau de change chain and foreign exchange dealer, is looking to sell its £350m high yield bond on Wednesday. Price guidance for the two-tranche transaction was released on Tuesday afternoon.
The senior secured
fixed rate notes are guided in the 8%-8.25% area and the floating rate notes in
the Libor plus 600bp area with a reoffer price between 99.5 and par.
Books are set to close at 10.30am
London time on Wednesday with pricing thereafter.
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