Manufacturer refinances months after botched £400m bond issue

Carpet manufacturer Victoria has refinanced its £380m debt facilities, months after a botched bond issue caused its share price to tank. Shares in the floorcoverings business fell by 35% in two days in October, wiping more than £260m off its market value, as investors reacted badly to the plans. At the time chairman Geoff Wilding blamed poor communication which he said "left an open goal for those with less than pure motives to spread outrageous untruths". The Kidderminster-based company has now secured long-term funding fo... You can carry on reading TheBusinessDesk.com for free, but you have reached the maximum number of pages an unregistered user can view. To register for an account, click here or login below...
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