Victoria PLC (LSE:VCP) has secured a new £130 million Super Senior Facility, replacing its previous revolving credit arrangement in a strategic move to bolster its financial footing and manage upcoming debt obligations. The facility combines both term loan and revolving credit components and is structured with no ongoing maintenance covenants or borrowing restrictions, giving Victoria greater financial agility.
This enhanced credit agreement marks a pivotal step in the company’s efforts to stabilize its balance sheet and pursue long-term operational goals. Additionally, the company reported encouraging progress in ongoing negotiations to refinance its Senior Secured Notes, signaling further steps toward improving its capital structure. Together, these developments are expected to support Victoria’s broader strategy to drive long-term shareholder value.
Despite these proactive measures, Victoria continues to face significant headwinds, including declining revenues and a high debt load. The company’s share price reflects this pressure, currently trading in a bearish pattern. However, the recent appointment of a new Chief Financial Officer may aid in restoring investor confidence and driving operational improvements over time.
About Victoria PLC
Founded in 1895 and listed on the London Stock Exchange since 1963, Victoria PLC is a global leader in the design, production, and distribution of flooring solutions. Headquartered in Worcester, UK, the company’s product portfolio includes carpet, ceramic tiles, luxury vinyl tile (LVT), artificial turf, flooring underlay, and accessories. With more than 5,300 employees operating across over 30 sites in the UK, Europe, the U.S., and Australia, Victoria stands as Europe’s largest carpet producer and a top manufacturer of underlay in both Europe and Australia.
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