Milbank Advises the Initial Purchasers on Another High Yield Bond Offering for Victoria PLC

Milbank LLP has advised the initial purchasers in connection with Victoria PLC’s (“Victoria”) offering of €250 million 3¾% Senior Secured Notes. Victoria used the proceeds of the offering to complete a refinancing of its outstanding bond indebtedness. This transaction represented the sixth bridge, bond or bank financing completed for Victoria since August 2018.

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 Rebecca Marques and Apostolos Gkoutzinis and special counsel Trevor Truman, with associates Andrea Sorace and Anish Mohanty. The team also included associate Michael Poolton as to certain English law matters, and London Tax associate Steve Quinn.