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Post by easterndreams on May 13, 2020 9:35:53 GMT
This says they are not going to make the payment on the 15th, and they intend to use their grace period to negotiate.
I guess that is 30 days? What then?
Presumably best case is some type of lengthened maturity, worst case is equity holders get wiped out and bondholders wind down the company?
This fall from grace has come so quickly for traveled.
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Post by kazamx on May 14, 2020 7:09:17 GMT
I totally forgot I owned this.
When they launched the Eu market I bought this one note to see how it all worked then never thought about it again. Even forgot I turned off EU notes on the markets so they never show up.
Not my shining glory picking this one, but could be worse dam you AMC!
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Post by easterndreams on Jun 8, 2020 14:31:03 GMT
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Post by easterndreams on Jul 6, 2020 11:59:36 GMT
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Post by easterndreams on Jul 8, 2020 6:40:20 GMT
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Post by easterndreams on Sept 4, 2020 9:47:50 GMT
It happened! Now I own Travelex equity in my WA account!
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jaswells
Member of DD Central
Posts: 254 
Likes: 184
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Post by jaswells on Sept 4, 2020 10:26:30 GMT
Should one take up the offer, I cant get my head around if its a good idea?
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Post by easterndreams on Sept 4, 2020 13:13:48 GMT
To be honest I only had a small size, mostly did it for novelty.
I cannot really see Travelex coming back or a PiK bond working well for holders.
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Nomad
Member of DD Central
Posts: 727
Likes: 494
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Post by Nomad on Jul 6, 2021 7:24:36 GMT
It happened! Now I own Travelex equity in my WA account! WA have sent me a "Follow on Offer for 12.5% Unsecured Travelex New Money PIK Notes due August 2025." This offers a mix of bonds and equity at an apparent 45% discount. What's the catch?
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Post by easterndreams on Jul 8, 2021 14:25:19 GMT
Traveler doesn't exactly have an untarnished record... I guess that is the catch?
Personally, I went with it.
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Post by easterndreams on Aug 15, 2021 9:34:20 GMT
Did the Travelex bond miss a payment in August? It has just disappeared in the WA UI, no word of what happened to it.
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Post by happylemon on Aug 16, 2021 15:13:47 GMT
True. Should have been one on the 5th of August.
And couldn't read anything about deferring it either and current payment schedule for November does not have any increased amount.
Have you written support already?
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Nomad
Member of DD Central
Posts: 727
Likes: 494
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Post by Nomad on Aug 16, 2021 17:45:03 GMT
True. Should have been one on the 5th of August. And couldn't read anything about deferring it either and current payment schedule for November does not have any increased amount. Have you written support already? I wrote this morning; no response as yet.
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Nomad
Member of DD Central
Posts: 727
Likes: 494
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Post by Nomad on Aug 18, 2021 9:02:53 GMT
True. Should have been one on the 5th of August. And couldn't read anything about deferring it either and current payment schedule for November does not have any increased amount. Have you written support already? I wrote this morning; no response as yet. WA (13 days after due date): "Yes - there is an August 5th payment.
As I mentioned, we are challenging the amount with the custodian. Once we have confirmed the amount the coupon will be paid."
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Post by easterndreams on Aug 18, 2021 11:05:52 GMT
Thanks for this Nomad
I can only echo what djay said on the other thread about these little mistakes beginning to add up
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