Victoria PLC, the international flooring company based in Worcester, has agreed a £130m "Super Senior Facility" to refinance its existing debt and improve financial flexibility. The new facility will replace the current Super Senior Revolving Credit Facility (RCF), which was due to mature in February 2026.
© Victoria PLC
The company stated that the agreement marks "a significant step forward" in addressing near-term debt obligations and strengthening its financial position. Unlike the previous arrangement, the new facility has no maintenance covenants or drawing restrictions, allowing Victoria "considerably enhanced flexibility".
The facility will become fully accessible once standard funding conditions are met and legal documentation is finalised. Discussions on the existing RCF are said to be progressing positively, with further updates expected soon.
Victoria's board expressed satisfaction with the facility's pricing, duration, and operational benefits, describing the agreement as a "key milestone" in its strategy to deliver shareholder value.
Lazard & Co. Ltd is advising on the financial aspects of the deal, while Latham & Watkins LLP is acting as legal counsel.
Victoria designs, manufactures, and distributes a range of flooring products globally and is actively working to reinforce its balance sheet amid broader financial restructuring.
Source: www.thebusinessdesk.com