By Rebecca Melvin
New York, March 10 – Victoria plc priced €250 million of senior secured notes due 2028 (B1/BB-/BB) at par, according to a London Stock Exchange notice on Wednesday.
The notes are guaranteed by Victoria Midco Holdings Ltd., Victoria Carpets Ltd., Westex (Carpets) Ltd., Abingdon Flooring Ltd., Interfloor Ltd., View Logistics Ltd., Ezi Floor Ltd., Hanover Flooring Ltd., the Victoria Carpet Co. Proprietary Ltd., Quest Flooring Pty Ltd., Primary Flooring Pty Ltd., Avalon BV and GrassInc. BV.
Credit Suisse Securities (Europe) Ltd. was manager of the deal.
As previously reported, the proceeds are intended to be used to refinance the remaining balance of Victoria’s outstanding 2024 senior secured notes.
The new issue follows pricing of €500 million of senior secured notes due 2026 that Victoria completed on Feb. 25.
The issuer is a Kidderminster, U.K.-based flooring company.
| Issuer: | Victoria plc
|
| Guarantors: | Victoria Midco Holdings Ltd., Victoria Carpets Ltd., Westex (Carpets) Ltd., Abingdon Flooring Ltd., Interfloor Ltd., View Logistics Ltd., Ezi Floor Ltd., Hanover Flooring Ltd., the Victoria Carpet Co. Proprietary Ltd., Quest Flooring Pty Ltd., Primary Flooring Pty Ltd., Avalon BV and GrassInc. BV
|
| Issue: | Senior secured notes
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| Amount: | €250 million
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| Maturity: | 2028
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| Price: | Par
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| Announcement date: | March 10
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| Ratings: | Moody’s: B1
|
| S&P: BB-
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| Fitch: BB
|
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