Steinhoff Subsidiary Asks to Bring Forward Maturity Date of Note Program

01/24/18 11:12 AM EST

By Oliver Griffin


Steinhoff Services Ltd. is seeking permission to bring forward the maturity date of its 15 billion-South African Rand ($1.2 billion) domestic medium-term note program.

Steinhoff International Holdings NV (SNH.JO) said Wednesday that its wholly-owned subsidiary is asking note holders to give written consent to bring the maturity date forward to Feb. 23, the company said.

If consent is obtained from a majority of note holders, Steinhoff Services Ltd. will redeem the capital outstanding under the program amounting to ZAR7.6 billion, along with accrued interest, the company said.


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(END) Dow Jones Newswires

January 24, 2018 11:12 ET (16:12 GMT)

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