Milbank has advised the initial purchasers in connection with Victoria PLC’s (“Victoria”) offering of €330 million 5¼% Senior Secured Notes (the “Notes”). Concurrently with the offering, Milbank also advised affiliates of the initial purchasers as lenders under £203 million term loan and revolving credit facilities. Victoria used proceeds from the offering of Notes and borrowings under the term loan facility to refinance existing indebtedness.

Victoria is a leading international designer, manufacturer and distributor of innovative flooring products across the United Kingdom, Continental Europe and Australia, established in 1895 and publicly listed since 1963. 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 Suhrud Mehta, with partner Rebecca Marques and special counsel Trevor Truman, and associates Andrew Bechtel, Iakovos Anagnostopoulos, Tom Neilson, Darell Hayes and Sarah Findlay. The team also included London Tax special counsel Matthew Mortimer and New York Tax associate Archan Hazra.

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.