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(Sharecast News) - Victoria said in an update on Thursday that its consent solicitation and exchange offer for its 2026 notes had closed with overwhelming support, paving the way for the company to refinance its debt and extend maturities.
The AIM-traded firm said the offer, which expired on 20 August, secured valid and unrevoked consents representing more than 98% of the outstanding principal amount of the ¬488.9m 3]% senior secured notes due 2026.
Around ¬564m of existing notes were tendered or agreed bilaterally for exchange, which would result in the issuance of about ¬612mn of 9.875% senior secured notes due 2029.
Settlement of the transaction was expected on 26 August, while the proposed amendments to the 2026 notes indenture would become operative once the conditions in the offer memorandum are met.
The company said holders could no longer revoke consents as the withdrawal deadline had passed.
At 1226 BST, shares in Vcitoria were down 1.26% at 70.8p.
Reporting by Josh White for Sharecast.com.
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