Withdrawal of offer to exchange 2028 secured notes
Victoria PLC has withdrawn its offer to exchange its outstanding senior secured notes due in 2028 for new second-priority notes. The decision follows feedback from certain 2028 bondholders, leading the Board to believe that more advantageous solutions may be available. The company will continue to benefit from the existing notes' medium-term maturity and the favorable coupon rate of 3.75%.
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Victoria PLC, (LSE: VCP) the international designer, manufacturer, and distributor of innovative flooring, announces the withdrawal of its offer to exchange its outstanding senior secured notes due 2028 for new second-priority notes.
Following feedback from certain 2028 bondholders, the Board has concluded there may be more advantageous solutions available to the Company. In the meantime, the Company will continue to take advantage of the medium-term maturity and favourable 3.75% coupon of the 2028 notes.
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