Travelex Issuerco 2 Plc

Completion of £15 million funding raise
Travelex Issuerco 2 Plc
4 October 2021

Travelex Issuerco 2 Plc ("Travelex" or the "Company")

4 October 2021

Travelex announces completion of £15 million funding raise

Following the publication of the Travelex's market announcement on 15 September 2021, Travelex is pleased to announce that it has successfully concluded the raising of £15 million of additional funding following the issuance of an additional number of new money notes (in a face value amount of approximately £16 million) by the Company (the "Additional New Money Notes") and the connected issuance of ordinary shares in Travelex Topco Limited, which are stapled to the Additional New Money Notes.

The Additional New Money Notes have the same terms and conditions and ISIN (XS2248458049) as the existing new money notes. An application will shortly be made for the Additional New Money Notes to be admitted to trading on the Vienna MTF (as operated by the Vienna Stock Exchange) and an announcement will be made once such admission has occurred.

Donald Muir, Chief Executive, commented:

I am delighted to announce that the recent capital raise has completed, securing an additional £15 million of funding for the business. This is great news for Travelex, providing further working capital to meet the rising demand as international travel continues to recover over the balance of 2021.

The additional issuance of new money notes was fully subscribed by our noteholders/ shareholders; demonstrating their continued support for the business. Both Travelex and the travel industry are moving in a positive direction and although H1 was more difficult than we had forecasted, more recently we have seen the start of significant positive momentum in business performance.

Global vaccination numbers are increasing, restrictions on travel are easing, and the world is getting ready to live alongside coronavirus. The western hemisphere has reached critical mass in vaccination programs and, following a rapid return of travel towards the end of the summer, and recent announcements from the US, UK and EU on travel policies it is likely to further boost recovery for Travelex over the balance of 2021. Whilst APAC had been trailing on the vaccine roll out plans, more recently there has been significant improvement in vaccination numbers and the Australian Government has provided assurances that international borders will re-open by December. In Asia, China opened its land border to Macau; and Thailand has confirmed that they will welcome vaccinated passengers from November.

Overall, the business is in a much more positive place and it is encouraging to see these strides forward.

Enquiries:

Travelex

For investor related queries:
Victoria.Benis-Lonsdale@travelex.com
Lan.Tang@travelex.com

For other enquiries:
Press@travelex.com

About Travelex
Founded in 1976 Travelex has grown to become one of the market leading specialist providers of foreign exchange products, solutions, and services, operating across the entire value chain of the foreign exchange industry in more than 20 countries. We have developed a growing network of ATMs and stores in some of the world's top international airports, major transport hubs, premium shopping malls and city centres.

Travelex has built a growing online and mobile foreign exchange platform, and we also process and deliver foreign currency orders for major banks, travel agencies and hotels worldwide. In addition, we source and distribute sizeable quantities of foreign currency banknotes for customers on a wholesale basis - including central banks and international financial institutions. We also offer a range of remittance and international money transfer products around the world.


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