Buy
Sell
Share Name Share Symbol Market Type Share ISIN Share Description
Victoria Plc LSE:VCP London Ordinary Share GB00BZC0LC10 ORD 5P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -2.00 -0.23% 880.00 870.00 890.00 880.00 880.00 880.00 36,607 08:00:00
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Household Goods & Home Construction 574.4 -3.7 -6.4 - 1,100

Victoria PLC Tender Offer Results

03/03/2021 7:00am

UK Regulatory (RNS & others)


Victoria (LSE:VCP)
Historical Stock Chart


From Feb 2021 to Apr 2021

Click Here for more Victoria Charts.

TIDMVCP

RNS Number : 9340Q

Victoria PLC

03 March 2021

NOT FOR DISTRIBUTION IN OR INTO OR TO ANY PERSON LOCATED OR RESIDENT IN THE UNITED STATES, ITS TERRITORIES AND POSSESSIONS, ANY STATE OF THE UNITED STATES OR THE DISTRICT OF COLUMBIA

THIS ANNOUNCEMENT IS FOR INFORMATION PURPOSES ONLY AND IS NOT AN OFFER TO PURCHASE OR A SOLICITATION OF AN OFFER TO SELL ANY NOTES

VICTORIA PLC

THIS ANNOUNCEMENT IS INTED FOR HOLDERS OF THE SENIOR SECURED NOTES DUE 2024 HELD IN THE REGULATION S GLOBAL NOTE BEARING ISIN NUMBER XS2032590007 (COMMON CODE: 203259000)

3 March 2021 - Victoria PLC (the "Company") announces today the results of its cash tender offer (the "Tender Offer") for its outstanding Senior Secured Notes due 2024 held in the Regulation S global notes bearing ISIN number XS2032590007 (Common Code: 203259000) (the "Notes") issued by the Company from the holders of the Notes (each holder a "Noteholder" and together, the "Noteholders"), as further described in the tender offer memorandum dated as of 23 February 2021 (the "Tender Offer Memorandum").

The Tender Offer expired at 4:00 p.m., London time, on 2 March 2021 (the "Expiration Deadline").

The Tender Offer was made upon the terms and conditions of the Tender Offer Memorandum. Capitalized terms used and not otherwise defined in this announcement have the meanings ascribed to them in the Tender Offer Memorandum.

The Company hereby announces that EUR127,918,000.00 in aggregate principal amount of the Notes were validly tendered and not withdrawn prior to the Expiration Date and will be accepted for repurchase (the "Final Acceptance Amount") for an Aggregate Tender Consideration of EUR133,687,634.90 million (including Accrued Interest), subject to the conditions set forth in the Tender Offer Memorandum, including satisfaction of the Financing Condition. The Company reserves the right, in its sole discretion, to waive any and all Conditions.

 
                                                                             Purchase 
 Description     Outstanding         ISIN/                     Minimum         Price                              Aggregate 
    of the         Principal         Common      Maturity    Denomination       per       Final Acceptance         Tender 
     Notes         Amount(1)          Code         Date                      EUR1,000           Amount          Consideration 
-------------  ---------------  --------------  ---------  --------------  ------------  ------------------  ------------------ 
                                                             EUR100,000 
    Senior                                                   and integral 
    Secured                                                   multiples                                       EUR133,687,634.90 
     Notes                       XS2032590007/     July      of EUR1,000                                         (including 
   due 2024     EUR476,010,000     203259000     15, 2024     thereafter    EUR1,040.00   EUR127,918,000.00   Accrued Interest) 
 

____________

(1) The Outstanding Principal Amount comprises the Notes, which were originally sold pursuant to Regulation S under the Securities Act (ISIN: XS2032590007; Common Code: 203259000), and does not include the notes issued under the Indenture (as defined herein) and originally sold pursuant to Rule 144A under the Securities Act (ISIN: XS2032590189; Common Code: 203259018) (the "Rule 144A Notes"). There can be no assurance that the Outstanding Principal Amount continues to be held pursuant to the Regulation S global notes. For the avoidance of doubt, the Tender Offer being made pursuant to the Tender Offer Memorandum is only being made in respect of the Notes which are held pursuant to Regulation S under the Securities Act. The outstanding aggregate principal amount of the Notes together with the Rule 144A Notes is EUR500,000,000 (collectively, the "Issued Notes").

Following the Tender Offer, EUR348,092,000.00 and EUR372,082,000.00 in aggregate principal amount of the Notes and the Issued Notes, respectively, will remain outstanding.

Subject to the Financing Condition, the Tender Offer is expected to settle on 5 March 2021 (the "Payment Date") and all payments for the Notes validly tendered and not withdrawn prior to the Expiration Date will be made on the Payment Date.

The Tender Offer is part of a refinancing transaction in connection with the Company's issuance of EUR500,000,000 in aggregate principal amount of Senior Secured Notes on or prior to the Payment Date (the "New Notes"), on terms and conditions reasonably satisfactory to the Company (the "New Issuance"). The proceeds of the New Notes, will be used (i) for general corporate purposes, which may include, without limitation, the funding of one or more acquisitions and/or the refinancing of certain existing indebtedness of the Company, (ii) to complete the Tender Offer and the Redemption (as defined herein) (the Tender Offer and the Redemption together, the "Refinancing"), including the payment of accrued and unpaid interest and Redemption and Tender Offer premia and (iii) to pay the fees and expenses in connection with the foregoing.

The Tender Offer is conditioned, amongst other conditions, on the "Financing Condition," which is the issuance by the Company of the New Notes, on or prior to the Payment Date, in a minimum amount and on terms and conditions reasonably satisfactory to the Company. There can be no assurance that the Company will be able to complete the New Issuance and satisfy the Financing Condition.

To the extent the Financing Condition is satisfied, the Company intends to redeem EUR50.0 million in aggregate principal amount of Issued Notes in accordance with the terms of the "optional redemption" provisions in the indenture governing the Issued Notes dated 26 July 2019 (as amended from time to time, the "Indenture") by and among the Company, the guarantors named therein, Deutsche Trustee Company Limited, as trustee (the "Trustee"), Deutsche Bank AG, London Branch as paying agent and Deutsche Bank Luxembourg S.A. as registrar and National Westminster Bank PLC as security agent, pursuant to the redemption notice issued by the Company on 3 February 2021 (the "Redemption"). The Redemption is expected to take place on or about 9 March 2021 at a redemption price of 103.000%, plus accrued and unpaid interest, as set out in the Indenture. Following the Tender Offer and the Redemption, the Company may, in its sole and absolute discretion, redeem or purchase further Issued Notes pursuant to the terms and conditions of the Indenture.

Credit Suisse Securities (Europe) Limited and HSBC Bank plc are acting as "Dealer Managers" for the Tender Offer. In connection with the Tender Offer, Lucid Issuer Services Limited has been appointed as tender agent (in such capacity, the "Tender Agent"). Holders with questions about the Tender Offer should contact the Dealer Managers or the Tender Agent.

 
                              THE COMPANY 
                              Victoria PLC 
                             Worcester Road 
                             Kidderminster 
                        Worcestershire DY10 1JR 
                             United Kingdom 
  Requests for information in relation to the Tender Offer should be 
                              directed to: 
                          THE DEALER MANAGERS 
               Credit Suisse Securities (Europe) Limited 
                            One Cabot Square 
                              Canary Wharf 
                             London E14 4QJ 
                             United Kingdom 
                   Attn: Liability Management Group 
                         Tel: +44 20 7883 8763 
             Email: liability.management@credit-suisse.com 
 
                              HSBC Bank plc 
                             8 Canada Square 
                             London E14 5HQ 
                             United Kingdom 
 
                     Attention: Liability Management 
                          Tel: +44 20 7992 6237 
                         Email: LM_EMEA@hsbc.com 
 Requests for information in relation to the procedures for tendering 
  Notes and participating in the Tender Offer and the submission of an 
     Electronic Instruction should be directed to the Tender Agent: 
                           THE TER AGENT 
                     Lucid Issuer Services Limited 
                            Tankerton Works 
                             12 Argyle Walk 
                            London WC1H 8HA 
                             United Kingdom 
                 Attention: Owen Morris / Jacek Kusion 
                       Tel: +44 (0) 20 7704 0880 
                     E-mail: victoria@lucid-is.com 
 

This announcement is not an offer to purchase any Notes or a solicitation of an offer to sell any Notes. The

Tender Offer is being made solely by means of the Tender Offer   Memorandum. 

DISCLAIMER

NOT FOR DISTRIBUTION FROM, WITHIN, IN OR INTO THE UNITED STATES, ITS TERRITORIES AND POSSESSIONS (INCLUDING PUERTO RICO, THE U.S. VIRGIN ISLANDS, GUAM, AMERICAN SAMOA, WAKE ISLAND AND THE NORTHERN MARIANA ISLANDS) OR ANY STATE OF THE UNITED STATES OR THE DISTRICT OF COLUMBIA.

The Tender Offer is not being made and will not be made, directly or indirectly, in or into, or by use of the mails of, or by any means or instrumentality of interstate or foreign commerce of, or of any facilities of a national securities exchange of, the United States. This includes, but is not limited to, facsimile transmission, electronic mail, telephone and the internet. The Notes may not be tendered in the Tender Offer by any such use, means, instrumentality or facility from or within the United States or by persons located or resident in the United States. Accordingly, copies of this announcement, the Tender Offer Memorandum and any other documents or materials relating to the Tender Offer are not being, and must not be, directly or indirectly, mailed or otherwise transmitted, distributed or forwarded (including, without limitation, by custodians, nominees or trustees) in or into the United States or to any persons located or resident in the United States. Any purported tender of Notes in the Tender Offer resulting directly or indirectly from a violation of these restrictions will be invalid and any purported tender of Notes made by a person located or resident in the United States, or any agent, fiduciary or other Intermediary acting on a non-discretionary basis for a principal giving instructions from within the United States will be invalid and will not be accepted.

The distribution of the Tender Offer Memorandum in certain jurisdictions may be restricted by law. Persons into whose possession the Tender Offer Memorandum comes are required by the Company, the Dealer Managers and the Tender Agent to inform themselves about, and to observe, any such restrictions.

This announcement is neither an offer to purchase nor the solicitation of an offer to sell any of the securities described herein, nor shall there be any offer or sale of such securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. The Tender Offer is made solely pursuant to the Tender Offer Memorandum dated February 23, 2021.

This announcement must be read in conjunction with the Tender Offer Memorandum. This announcement and the Tender Offer Memorandum contain important information which should be read carefully before any decision is made with respect to the Tender Offer. If any Holder is in any doubt as to the action it should take, it is recommended that such Holder seeks its own financial and legal advice, including as to any tax consequences, immediately from its stockbroker, bank manager, solicitor, accountant or other independent financial or legal adviser. Any individual or company whose Notes are held on its behalf by a broker, dealer, bank, custodian, trust company or other nominee or intermediary must contact such entity if it wishes to tender Notes in the Tender Offer. None of the Company, the Dealer Managers or the Tender Agent makes any recommendation as to whether Noteholders should participate in the Tender Offer.

Any deadlines set by any intermediary will be earlier than the deadlines specified in the Tender Offer Memorandum.

The information contained in this announcement does not constitute an invitation or inducement to engage in investment activity within the meaning of the United Kingdom Financial Services and Markets Act 2000. In the United Kingdom, this announcement is being distributed only to, and is directed only at (i) persons who are outside the United Kingdom, (ii) persons in the United Kingdom falling within the definition of investment professionals (as defined in Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the "Financial Promotion Order")), (iii) persons who are within Article 43 of the Financial Promotion Order or (iv) any other persons to whom it may otherwise lawfully be made under the Financial Promotion Order (all such persons together being referred to as "relevant persons"). This announcement and the Tender Offer Memorandum is directed only at relevant persons and must not be acted on or relied on by persons who are not relevant persons.

This announcement contains forward-looking statements and information that is necessarily subject to risks, uncertainties, and assumptions. No assurance can be given that the transactions described herein will be consummated or as to the terms of any such transactions. The Company assumes no obligation to update or correct the information contained in this announcement.

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.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

END

RTESSLFUEEFSELD

(END) Dow Jones Newswires

March 03, 2021 02:00 ET (07:00 GMT)

1 Year Victoria Chart

1 Year Victoria Chart

1 Month Victoria Chart

1 Month Victoria Chart
ADVFN Advertorial
Your Recent History
LSE
VCP
Victoria
Register now to watch these stocks streaming on the ADVFN Monitor.

Monitor lets you view up to 110 of your favourite stocks at once and is completely free to use.

By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions

P: V:gb D:20210417 12:48:59