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.

 

Write to Oliver Griffin at oliver.griffin@dowjones.com

 

(END) Dow Jones Newswires

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

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