(Reuters) – Provider of troubled currency services Travelex [TFPI.UL] on Wednesday warned of defaulting on a coupon payment of 14.4 million euros ($ 15.6 million) on some of its senior notes as it struggles with a hit to earnings amid the coronavirus crisis.
The company has put itself up for sale after the parent company Finablr
Travelex said it has no intention of paying the coupon payable on Friday, adding that it would seek waiver arrangements from noteholders.
The London-based company also said it was in talks with its lenders, advisors and certain bondholders about a long-term solution while actively seeking bidders for the group.
(Reporting by Pushkala Aripaka in Bengaluru; Editing by Anil D’Silva)