Travelex raises £350m HY at tight end of guidance
Travelex, the UK bureau de change chain and foreign exchange dealer, sold its £350m high yield bond at the tight end of price guidance on Wednesday, though the deal traded slightly lower on Thursday.
Markets weakened on Thursday, with a fall of about 0.9% in UK and European equities and an 8bp widening in the Markit iTraxx Crossover index in the morning, to 412bp. UK and European
Travelex's five year senior secured deal, rated B2/B, comprised a £200m fixed rate tranche, priced at
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