Tuesday, July 07, 2020 10:58 a.m. CDT by Thomson Reuters
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(Reuters) – Travelex mentioned on Tuesday its debt holders will take management of the corporate and inject 84 million kilos ($105.60 million) of recent liquidity as a part of a debt restructuring to assist the forex service supplier experience out the coronavirus disaster.
The corporate mentioned it reached an settlement with at the least 66.7% of its senior secured noteholders and all of revolving credit score facility lenders on an 84% discount of its present monetary debt.
(Reporting by Tanishaa Nadkar in Bengaluru; Enhancing by Shinjini Ganguli)