Victoria adds €170m to first bond issue, sweeping shaky debut under rug
UK flooring company Victoria issued a €170m add-on to its €330m of outstanding 5.25% senior secured notes, due in 2024. The royal carpet maker successfully issued its debut bond last summer after failing at the first attempt in 2018 in a horribly timed launch.
Victoria will use the proceeds of the add-on to refinance the company’s all senior bank debt.
The initial price thoughts of 104.75–105.00 cents on the euro already indicated that Victoria would complete the add-on with great success. In the end, the add-on was priced at 105.00% compared with ...