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30 Jun 2025 07:00
This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 ("MAR"), and is disclosed in accordance with the Company's obligations under Article 17 of MAR
Victoria PLC
('Victoria' or the 'Company')
Victoria Plc Announces New £130m Super Senior Facility and Progress on Refinancing of Senior Secured Notes
Victoria PLC, (LSE: VCP) the international designers, manufacturers, and distributors of innovative flooring, is pleased to announce that it has reached agreement on a new £130m Super Senior Facility.
This new facility will replace the Company's existing Super Senior Revolving Credit Facility (RCF) due in February 2026, representing a significant step forward in the Company's plan to strengthen its financial position and address its near-term debt maturities.
The new £130m facility combines both term loan and revolving credit elements and offers considerably enhanced flexibility compared to the existing RCF. The new facility has no maintenance covenants or drawing restrictions, and the entire facility will therefore be available to the Company upon satisfying certain funding conditions and completion of long-form documentation.
The Board is very pleased with the pricing, duration, and operational flexibility the new facility offers as it ensures Victoria is well-positioned to meet its future operational and financial objectives.
Discussions with regards to the upcoming Senior Secured Notes are well advanced and continue to progress positively. The Company expects to provide further updates shortly.
Victoria remains committed to executing its strategy to enhance shareholder value, and this new financing agreement represents a key milestone in that ongoing effort.
Victoria Plc is advised by Lazard & Co. Ltd as financial advisor and Latham & Watkins LLP as legal advisor in connection with the Group's refinancing.
The person responsible for arranging the release of this announcement
on behalf of the Company is Alec Pratt, Chief Financial Officer Designate
For more information contact:
Victoria PLC Geoff Wilding, Executive Chairman Philippe Hamers, Group Chief Executive Alec Pratt, Chief Financial Officer Designate | www.victoriaplc.com/investors-welcome Via Walbrook PR | |
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Singer Capital Markets (Nominated Adviser & Joint Broker) Rick Thompson, Phil Davies, James Fischer | +44 (0)20 7496 3095
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Berenberg (Joint Broker) Ben Wright, Harry Nicholas, Tom Ballard | +44 (0)20 3207 7800 | |
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Walbrook PR (Joint Investor Relations) Paul McManus, Alice Woodings | +44 (0)20 7933 8780 or victoria@walbrookpr.com +44 (0)7980 541 893 / +44 (0)7407 804 654 | |
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Edelman Smithfield (Joint Investor Relations) Alex Simmons | +44 (0)7970 174 252 or alex.simmons@edelmansmithfield.com | |
About Victoria PLC (www.victoriaplc.com)
Established in 1895 and listed since 1963 and on AIM since 2013 (VCP.L), Victoria PLC, is an international manufacturer and distributor of innovative flooring products. The Company, which is headquartered in Worcester, UK, designs, manufactures and distributes a range of carpet, flooring underlay, ceramic tiles, LVT (luxury vinyl tile), artificial grass and flooring accessories.
Victoria has operations in the UK, Spain, Italy, Belgium, the Netherlands, Germany, Turkey, the USA, and Australia and employs approximately 5,350 people across more than 30 sites. Victoria is Europe's largest carpet manufacturer and the second largest in Australia, as well as the largest manufacturer of underlay in both regions.
The Company's strategy is designed to create value for its shareholders and is focused on consistently increasing earnings and cash flow per share via acquisitions and sustainable organic growth.
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