Victoria offers to buy back senior secured notes due 2024

By Rebecca Melvin

New York, Feb. 23 – Victoria plc is offering to purchase for cash its senior secured notes due July 15, 2024 (ISIN: XS2032590007), according to an announcement.

There are €476.01 million of the notes outstanding, and the company intends to accept a target amount of €50 million of notes. The amount may be adjusted upward, however.

The company is offering to pay €1,040.50 per $1,000 principal amount of notes, plus accrued and unpaid interest for the Regulation S notes. The offer does not include the notes originally sold pursuant to Rule 144A.

The offer will expire at 11 a.m. ET on March 2, with settlement expected to occur on March 5.

The company intends to fund the offer with its new issuance, which is a condition of the offer.

Credit Suisse Securities (Europe) Ltd. (+44 20 7883 8763, liability.management@credit-suisse.com) and HSBC Bank plc (+44 20 7992 6237, LM_EMEA@hsbc.com) are the dealer managers of the tender.

Lucid Issuer Services Ltd. (+44 20 7704 0880, victoria@lucid-is.com) is the information and tender agent.

The flooring company is based in Kidderminster, U.K.

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