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MarketScreener Homepage  >  Equities  >  London Stock Exchange  >  Finablr PLC    FIN   GB00BJ7HMW26

FINABLR PLC

(FIN)
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Finablr : Forex firm Travelex to default on coupon payment

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05/13/2020 | 05:56am EDT
Signage is seen on a branch of Travelex Currency Exchange in London

Troubled currency services provider Travelex [TFPI.UL] on Wednesday warned of defaulting on a 14.4 million euro ($15.6 million) coupon payment on some of its senior notes as it grapples with a hit to earnings amid the coronavirus crisis.

The firm has put itself up for sale after parent Finablr cautioned of a potential insolvency, while Travelex itself has been hit by costs related to a ransomware attack in late December that crippled its systems.

Travelex said it does not intend to pay the coupon due on Friday, adding that it would seek waiver arrangements from noteholders.

The London-based company also said it was in talks with its lenders, advisers and certain bondholders for a long-term solution, while it was actively seeking bidders for the group.

(Reporting by Pushkala Aripaka in Bengaluru; Editing by Anil D'Silva)

Stocks mentioned in the article
ChangeLast1st jan.
BYD COMPANY LIMITED 1.05% 48.2 End-of-day quote.24.07%
FINABLR PLC -5.20% 11.025 Delayed Quote.-93.53%
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Latest news on FINABLR PLC
05/13FINABLR : Forex firm Travelex to default on coupon payment
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Financials (USD)
Sales 2019 1 593 M - -
Net income 2019 - - -
Net Debt 2019 - - -
P/E ratio 2019 -
Yield 2019 -
Capitalization 94,7 M 97,1 M -
EV / Sales 2018
Capi. / Sales 2019 0,06x
Nbr of Employees 18 201
Free-Float 28,4%
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Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 2
Average target price 1,73 $
Last Close Price 0,14 $
Spread / Highest target 1 610%
Spread / Average Target 1 180%
Spread / Lowest Target 750%
EPS Revisions
Managers
NameTitle
Bhairav Trivedi Chief Executive Officer
Bavaguthu Raghuram Shetty Co-Chairman
Michael Hardwick Tomalin Co-Chairman
Mehul Desai Group Chief Technology Officer
Robert Douglas Dowie Senior Independent Non-Executive Director
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