Victoria PLC Pricing of EUR330 million senior secured notes (1903G)
19 Julho 2019 - 1:54PM
UK Regulatory
TIDMVCP
RNS Number : 1903G
Victoria PLC
19 July 2019
NOT FOR DISTRIBUTION OR RELEASE IN OR INTO THE UNITED STATES (OR
TO U.S. PERSONS) OR ANY PERSON LOCATED OR RESIDENT IN ANY
JURISDICTION WHERE IT IS UNLAWFUL TO DISTRIBUTE THIS ANNOUNCEMENT.
THIS ANNOUNCEMENT IS FOR INFORMATION PURPOSES ONLY AND IS NOT AN
OFFER TO PURCHASE OR A SOLICITATION OF AN OFFER TO SELL ANY
NOTES
News Release
19 July 2019
THIS RELEASE CONTAINS INSIDE INFORMATION
Victoria PLC
("Victoria", the "Company", or the "Group")
Announcement of pricing of EUR330 million senior secured
notes
Victoria PLC (LSE: VCP) is pleased to announce today that it has
successfully offered EUR330 million 5 1/4 % fixed rate senior
secured notes due 2024 ("Notes"). The offering, which is leverage
neutral, was 3x over-subscribed.
The Notes, which will be issued at par, will be general, senior
obligations of the Company and will be guaranteed by certain of the
Company's subsidiaries.
The Notes will rank pari passu with a GBP143 million term loan
provided by the Company's relationship banks, which amortises with
an average maturity of 3.6 years and has an initial margin of
3.25%, expected to step down as the Company de-levers over
time.
Interest on the Notes will be payable semi-annually in arrears.
The offering of the Notes is expected to close and the Notes are
expected to be issued on or about 26 July 2019, subject to
customary conditions precedent for similar transactions.
Following the issue of the Notes, the Group is expected to have
approximately GBP80 million of cash.
FOR FURTHER INFORMATION CONTACT:
Victoria PLC Cantor Fitzgerald Europe (Nominated
(+44 (0) 1562 749 610) Adviser and Joint Broker)
Geoff Wilding (+44 (0) 20 7894 7000)
Philippe Hamers Rick Thompson, Phil Davies, Will
Michael Scott Goode (Corporate Finance)
Caspar Shand Kydd, Andrew Keith
(Equity Sales)
Berenberg (Joint Broker) Buchanan Communications (Financial
(+44 (0) 203 207 7800) PR)
Ben Wright, Mark Whitmore, Laure (+44 (0) 20 7466 5000)
Fine (Corporate Broking) Charles Ryland
Victoria Hayns
Madeleine Seacombe
Tilly Abraham
------------------------------------
This announcement does not constitute an offer to sell or the
solicitation of an offer to buy the Notes or any other security and
shall not constitute an offer, solicitation or sale in the United
States or in any jurisdiction in which, or to any persons to whom,
such offering, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of any
jurisdiction. Securities may not be offered or sold in the United
States absent registration or an exemption from registration under
the U.S. Securities Act of 1933, as amended (the "Securities Act").
The Notes will not be registered under the Securities Act. Any
public offering of securities to be made in the United States will
be made by means of a prospectus. Such prospectus will contain
detailed information about the issuer making the offer and its
management and financial statements. No public offering of the
Notes has been or will be made in the United States. This press
release is being issued pursuant to and in accordance with Rule
135e under the Securities Act
This announcement may include projections and other
"forward-looking" statements within the meaning of applicable
securities laws. Any such projections or statements reflect the
current views of the Company about future events and financial
performance. The use of any of the words "expect," "anticipate,"
"continue," "will," "project," "should," "believe," "plans,"
"intends" and similar expressions are intended to identify
forward-looking information or statements. Although the Company
believes that the expectations and assumptions on which such
forward-looking statements and information are reasonable, undue
reliance should not be placed on the forward-looking statements and
information because the Company can give no assurance that such
statements and information will prove to be correct. Since
forward-looking statements and information address future events
and conditions, by their very nature they involve inherent risks
and uncertainties.
The forward-looking statements and information contained in this
announcement are made as of the date hereof and the Company
undertakes no obligation to update publicly or revise any
forward-looking statements or information, whether as a result of
new information future events or otherwise, unless so required by
applicable securities laws. Within the United Kingdom, this
announcement is directed only at persons having professional
experience in matters relating to investments who fall within the
definition of "investment professionals" in Article 19(5) of the
Financial Services and Markets Act 2000 (Financial Promotion) Order
2005 ("relevant persons"). The investment or investment activity to
which this announcement relates is only available to and will only
be engaged in with relevant persons and persons who receive this
announcement who are not relevant persons should not rely or act
upon it.
Manufacturer target market (MIFID II product governance) is
eligible counterparties and professional clients only (all
distribution channels). No PRIIPs key information document (KID)
has been prepared as not available to retail in EEA.
This announcement contains inside information within the meaning
of Regulation (EU) No 596/2014 of 16 April 2014 on market abuse.
The person responsible for arranging the release of this
announcement on behalf of the Company is Michael Scott, Group
Finance Director.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
MSCGGUBCMUPBGQB
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July 19, 2019 12:54 ET (16:54 GMT)
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