Victoria PLC, one of the UK’s largest flooring manufacturers, has announced it has reached agreement on a new £130m super senior facility.
This new facility will replace the company’s existing super senior revolving credit facility (RCF) due in February 2026, representing “a significant step” forward in the company’s plan to strengthen its financial position and address its near-term debt maturities.
The new £130m facility combines both term loan and revolving credit elements and offers considerably enhanced flexibility compared to the existing RCF. The new facility has no maintenance covenants or drawing restrictions, and the entire facility will therefore be available to the company upon satisfying certain funding conditions and completion of long-form documentation.
The board is said to be very pleased with the pricing, duration, and operational flexibility the new facility offers as it ensures Victoria is “well-positioned to meet its future operational and financial objectives”.
The company expects to provide further updates shortly.