July 21, 2026
Willkie is advising an ad hoc group of bondholders (the "Ad Hoc Group") in connection with the comprehensive refinancing of Victoria PLC (LSE: VCP), an international manufacturer and distributor of innovative flooring products.
On July 21, Victoria announced that over 75% of the holders of its senior secured notes due 2028 acceded to a previously announced transaction support agreement, allowing the company to implement the refinancing transaction. The Ad Hoc Group holds a significant portion of the 2028 notes. The refinancing transaction will reduce senior secured debt and Preferred Shares liabilities by at least £300 million, cut annual finance costs, and extend debt maturities through the issue of new 2031 notes, among other measures.
The Willkie team is led by partner Edward Downer in London and includes partners Jennifer Tait, Mark Stancil and Jeffrey Pawlitz and associates Antonia Pegg and Dina Grego.
On July 21, Victoria announced that over 75% of the holders of its senior secured notes due 2028 acceded to a previously announced transaction support agreement, allowing the company to implement the refinancing transaction. The Ad Hoc Group holds a significant portion of the 2028 notes. The refinancing transaction will reduce senior secured debt and Preferred Shares liabilities by at least £300 million, cut annual finance costs, and extend debt maturities through the issue of new 2031 notes, among other measures.
The Willkie team is led by partner Edward Downer in London and includes partners Jennifer Tait, Mark Stancil and Jeffrey Pawlitz and associates Antonia Pegg and Dina Grego.
