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

FINABLR PLC

(FIN)
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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.
AT HOME GROUP INC. 6.27% 22.04 Delayed Quote.300.73%
BYD COMPANY LIMITED 4.37% 145.6 End-of-day quote.274.77%
FINABLR PLC -5.20% 11.025 Delayed Quote.0.00%
JUST GROUP PLC 5.01% 46.96 Delayed Quote.-40.56%
ONE STOP SYSTEMS, INC. -1.69% 2.33 Delayed Quote.15.35%
SEEK LIMITED -0.09% 23.08 End-of-day quote.2.35%
THE NEW HOME COMPANY INC. -5.63% 5.03 Delayed Quote.7.94%
WILL GROUP, INC. -3.56% 839 End-of-day quote.-32.99%
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All news about FINABLR PLC
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07/07FINABLR : Forex firm Travelex says debt holders to take control of company
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05/13Forex firm Travelex to default on coupon payment
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04/22Forex firm Travelex looks to sell itself amid troubles at parent company
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Financials (USD)
Sales 2018 29,1 M - -
Net income 2018 -38,9 M - -
Net cash 2018 68,0 M - -
P/E ratio 2018 -
Yield 2018 -
Capitalization 5,38 M 5,50 M -
EV / Sales 2017 -
EV / Sales 2018 -
Nbr of Employees 18 201
Free-Float 28,4%
Chart FINABLR PLC
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Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 1
Average target price 1,14 $
Last Close Price 0,01 $
Spread / Highest target 14 774%
Spread / Average Target 14 774%
Spread / Lowest Target 14 774%
Managers
NameTitle
Bhairav Trivedi Chief Executive Officer
Michael Hardwick Tomalin Chairman
Mehul Desai Group Chief Technology Officer
Robert Douglas Dowie Senior Independent Non-Executive Director
Julian Wynter Independent Non-Executive Director
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