Travelex Issuerco 2 Plc Initiates Consent Solicitation for Notes Reduction

On May 5, 2026, Travelex Issuerco 2 Plc announced a consent solicitation for a significant reduction in its new money notes. The action involves a 70% reduction in the value of Last-Out Notes and Proceeds Loans. This consent, outlined in the Written Resolution, requires approval from the noteholders.

The process seeks to amend the terms of the 3.01% Senior Guaranteed Secured Notes due 2029 and the 15% Senior Guaranteed Secured Notes due 2028. These changes would align across Sterling and Euro notes, conditional on receiving requisite majorities of noteholder consent by June 3, 2026.

Noteholders are required to submit irrevocable electronic voting instructions, blocking their accounts until the deadline. Notifications of consent are final.

This move is part of Travelex's strategy to manage its debt structure efficiently. The distribution of this announcement is subject to legal restrictions in some jurisdictions.