Ahead of publishing its half-year results for the period ending September 2025, Victoria has released a trading statement reaffirming its
Read MoreThe 2028 bondholders have rejected the exchange offer from Victoria Plc, choosing not to accept the distressed offer to uptier the balance. Admittedly, we had
Read MorePhilippe Hamers, Group CEO of Victoria Plc, has announced his intention to retire in the middle of next year. The timing makes some sense,
Read MoreThe final blow to the 2028 Noteholders has been delivered via this morning's exchange offer. These holders were already significantly disadvantaged by
Read MoreVictoria is holding its AGM today and has therefore released an AGM statement to the market. However, the Company have provided very little
Read MoreDeal is done, and the proverbial can is kicked down the road. We maintain that this deal only offers a short-term improvement in liquidity and
Read More(Wolfgang on behalf of Tomas) The company disclosed that over 97% of holders of the 2026 notes are supporting the amendments. Since these
Read MoreVictoria Plc has confirmed that 78% of the 2026 Noteholders voted in favour of the recent consent solicitation to elevate the ranking of the
Read MoreVictoria Plc has launched a consent solicitation to amend and extend its 2026 Notes. With approximately 90% of these bondholders already party to
Read MoreThe balance sheet restructuring of Victoria Plc is painfully slow, but another milestone was completed today. The RCF, which had traded away from
Read MoreFitch downgraded Victoria Plc bonds to CCC+, reflecting the market view of a difficult refinancing task for the Company with its upcoming bonds. We reiterate our
Read MoreVictoria Plc issued a trading update for the year ending March 2025, confirming revenue to be at least £1.11bn and that EBITDA margins will broadly
Read MoreAs part of Victoria’s announcement on a new CFO, the Company also commented on its refinancing proposals, stating the negotiated refinancing of
Read MoreMarket chatter confirms that £27m VIctoria RCF was auctioned yesterday, but we can't confirm if it traded. This follows a similar size piece that
Read MoreMoody's downgraded Victoria plc Senior Secured bonds to Caa1 from B3 keeping outlook negative, driven by the refinancing risk associated with upcoming
Read MoreVictoria Plc released a Q3 update, confirming its trading outlook expectations to be in line with market consensus. Overall, market consensus is
Read MoreThe Spruce House Partnership has effectively left the share register in Victoria Plc, reducing its exposure to 3.8%. Spruce House historically had
Read MoreFitch has caught up with the reality of Victoria's situation and downgraded the bonds to B+ from BB. This is a reaction to the deterioration of EBITDA as
Read MoreA new shareholder has appeared on Victoria’s register, Philosophy Capital Management LLC, with a 6.6% stake. In context, this is a £3m position and
Read MoreThe share register in Victoria Plc continues to evolve as The Spruce House Partnership exits its position. From holding 20.7% at year-end, they have reduced to
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