Victoria plans €170m corporate bond issue

Wed, 22nd Jan 2020

Flooring retailer Victoria said it planned to raise €170m from a corporate bond offering to pay existing bank debt. The company said it was issuing the senior secured notes due 2024 following 'continued strong operating performance and favourable market conditions'. Net proceeds would be used to repay outstanding senior bank debt in full and, as such, the refinancing would not increase net debt. Victoria said it had continued to achieve a positive revenue performance in the first half of the 2020 financial year, alongside a 200 basis point rise in its Ebitda margin. Story provided by StockMarketWire.com

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