Liability management exercises · defined & tracked

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Victoria PLC

July 2025 · Europe · Uptier

Used single-class voting across its 2026 and 2028 notes to amend the indenture and elevate the 2026 notes. It withdrew a later exchange offer to 2028 holders in October 2025.

Discussed in Liability Management Exercises: Law and Practice at ¶¶ 2.91, 14.23, 21.31.