Refinancing Transaction Update
Victoria PLC has confirmed that over 75% of holders of its outstanding €166.6 million 3.75% senior secured notes due March 2028 have supported the refinancing transaction, meeting the threshold for implementation via a scheme of arrangement. This significant bondholder backing secures a path forward for the transaction, which aims to provide cost savings, deleveraging, and an extended financial runway for the company. The Executive Chairman expressed delight at the swift and overwhelming support, emphasizing the company's continued focus on operational improvements alongside the benefits of the refinancing.
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Further to its announcement on 8 July 2026, Victoria PLC (LSE: VCP), the international flooring group, is pleased to confirm that holders representing over 75% of its outstanding €166.6 million 3.75% senior secured notes due March 2028 (the "2028 SSNs") have acceded to the Transaction Support Agreement, meeting the necessary threshold required to implement it by way of a scheme of arrangement under Part 26 of the Companies Act 2006.
Geoff Wilding, Executive Chairman, said:
"We are delighted to receive overwhelming support so quickly for the transaction from the 2028 bondholders, which secures a route to implementation. We will complete the refinancing as soon as possible as the Company continues to focus on executing operational improvements alongside the cost savings, deleveraging, and extended runway provided by the transaction."
Capitalised terms used but not defined in this announcement have the meanings given to them in the announcement dated 8 July 2026.
Victoria PLC is advised by Lazard & Co. Limited as financial adviser, Latham & Watkins LLP and Brown Rudnick LLP as legal advisers in connection with the Refinancing Transaction.
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.