Milbank LLP has advised the initial purchasers in connection with Victoria PLC’s (“Victoria”) offering of €170 million 5¼% Senior Secured Notes (the “Notes”). The proceeds of the bond offering were used by Victoria to repay its existing term loan facility and expenses relating to the offering. As a result of the offering, Victoria has completed its migration to an all-bond capital structure.
Established in 1895 and publicly listed since 1963, Victoria is a leading international designer, manufacturer and distributor of innovative flooring products across the United Kingdom, Continental Europe and Australia. The majority of its products are for residential use, with a particular focus on mid- to upper-market products used in the improvement and repair segment.
The Milbank team was led by European Leveraged Finance/Capital Markets partners Apostolos Gkoutzinis and Alexandra Grant and special counsel Trevor Truman, with associates Andrew Bechtel, Iakovos Anagnostopoulos, Tom Neilson, Sarah Findlay and Chara Makrygianni. The team also included New York Tax associate Archan Hazra.