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Expiration and Results of 90% Consent Solicitation
Victoria PLC (LSE: VCP) announced the results of its consent solicitation and exchange offer for its €500.0 million 3⅝% Senior Secured Notes due 2026 (€488.9 million outstanding). The offer, which expired on August 20, 2025, received valid consents representing over 98% of the outstanding principal amount. Approximately €564.0 million in principal amount of existing notes were tendered and accepted for exchange, resulting in the expected issuance of approximately €612.0 million in 9.875% Senior Secured Notes due 2029. Settlement is expected on August 26, 2025. Disclaimer*
About this update from Victoria Plc
[{"type":"text","content":"\n\nNOT FOR DISTRIBUTION TO ANY PERSON LOCATED OR RESIDENT IN ANY JURISDICTION WHERE IT IS UNLAWFUL TO DISTRIBUTE THIS ANNOUNCEMENT. THIS ANNOUNCEMENT IS FOR INFORMATION PURPOSES ONLY AND IS NOT AN OFFER TO PURCHASE OR A SOLICITATION OF AN OFFER TO SELL ANY NOTES\n \nThe information communicated within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018. Upon the publication of this announcement, this inside information is now considered to be in the public domain.\n \nNews Release\nAugust 21, 2025\n \n\n \nVictoria PLC\n(\"Victoria\", the \"Company\", or the \"Group\")\n \nAnnouncement of Expiration and Results of 90% Consent Solicitation and Exchange Offer\n \n \nVictoria PLC (LSE: VCP), a public limited company incorporated under the laws of England and Wales, announces the expiration and results of the previously announced consent solicitation and exchange offer (the \"90% Consent Solicitation and Exchange Offer\") from Eligible Holders of the 2026 Notes, upon the terms and subject to the conditions set forth in the consent solicitation and exchange offer memorandum, dated July 24, 2025 (the \"Consent Solicitation and Exchange Offer Memorandum\"), to certain proposed amendments (the \"Proposed Amendments\") to the indenture dated March 5, 2021 (the \"Existing Indenture\") relating to the €500.0 million aggregate principal amount of its 3⅝% Senior Secured Notes due 2026 (of which €488.9 million is outstanding) (the \"2026 Notes\").\n \nThe 90% Consent Solicitation and Exchange Offer expired at 5:00 p.m. New York time on August 20, 2025 (the \"Expiration Time\"). As of the Expiration Time, the Company has received (i) valid and unrevoked consents representing more than 98% of the outstanding principal amount of the 2026 Notes and (ii) an aggregate of approximately €564.0 million principal amount of Existing Notes were tendered and accepted in exchange (or agreed bilaterally to be exchanged), which is expected to result in the issuance of approximately €612.0 million aggregate principal amount of its 9.875% Senior Secured Notes due 2029. The settlement of the 90% Consent Solicitation and Exchange Offer is expected to occur on...