By Paul A. Harris
Portland, Ore., July 19 – Victoria plc priced €330 million of five-year senior secured notes (B1/BB-/BB) at par to yield 5¼%, according to market sources.
The yield printed at the tight end of the 5¼% to 5½% yield talk.
Credit Suisse Securities (Europe) Ltd. managed the sale, a market source said.
The deal was three-times oversubscribed, according to a market source.
The England-based flooring company plans to use the proceeds to repay debt.
| Issuer: | Victoria plc
|
| Amount: | €330 million
|
| Tenor: | Five years
|
| Securities: | Senior secured notes
|
| Lead manager: | Credit Suisse Securities (Europe) Ltd.
|
| Coupon: | 5¼%
|
| Price: | Par
|
| Yield: | 5¼%
|
| Announcement date: | July 19
|
| Ratings: | Moody’s: B1
|
| S&P: BB-
|
| Fitch: BB
|
| Price talk: | 5¼% to 5½%
|
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