Business
Successful extension of 2026 maturities
Victoria PLC has successfully refinanced its near-term senior debt maturities. The refinancing includes €612 million (approximately £528 million) of 9.875% Senior Secured Notes due in July 2029. Additionally, a new £130 million super senior credit facility has been established, maturing in January 2030. The company anticipates that the completion of this refinancing will release additional liquidity for growth investments. Victoria PLC expects to deliver £70m annual EBITDA improvements vs FY2025 once complete. Disclaimer*
About this update from Victoria Plc
[{"type":"text","content":"\n\n \nThis 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\n \nVictoria PLC\n('Victoria' or the 'Company')\n \nVictoria PLC confirms the successful extension of 2026 maturities\n \nThe Refinancing replaces Victoria's near-term senior debt maturities with €612million (£528 million1) of 9.875% Senior Secured Notes due July 2029, and a new £130 million super senior credit facility maturing in January 2030.\n \nThe completion of the Refinancing is a key milestone for the Company and provides certainty for all stakeholders. It:\n· Releases additional liquidity to invest in growth and margin improvement initiatives\n· Provides significant maturity runway for the Company to allow time for execution of self-help operational improvement measures\n· Delivers a strong, long-term solution to the Company's capital structure, reiterating the support from all partners and external stakeholders\n \nThe board remains confident in the medium-term recovery of both volume and pricing across its end-markets, and in the near-term remains focused on rebuilding the Company's credit rating, generating cash to deleverage and delivering self-help initiatives outlined at the recent full year results (which once complete expected to deliver £70m annual EBITDA improvements vs FY2025).\n \n1 Exchange rate of £1 = €1.1579\n \nCautionary Statement\nThis announcement and the information contained herein are for information purposes only and do not constitute a prospectus or an offer to sell, or a solicitation of an offer to buy or subscribe for, any securities in the United States of America or in any other jurisdiction.\n \nThis press release does not constitute or form part of and should not be construed as (i) a tender or exchange offer for, or an offer to sell, or a solicitation of an offer to buy and securities or (ii) an offer of, an invitation to offer, or a solicitation of an offer to buy, securities for sale in the United States of America or in any other jur...