Steinhoff Says It Can Pay Back Debt for Now; Seeks Refinancing
January 18 2018 - 9:43AM
Dow Jones News
By Carlo Martuscelli
Steinhoff International Holdings N.V. (SNH.JO) said Thursday
that, for the short-term, it can pay back its debt obligations at
the agreed-upon on rate.
The South African retailer said it would seek refinancing as
soon as possible for its South African debt in order to release
liquidity. The company also said it planned to sell a limited
number of assets to further raise liquidity.
According to Steinhoff, after having received the support of its
creditors in recent weeks, it would seek limited waivers of its
financing arrangements in Europe.
The waivers will exclude the financing of its Mattress Firm
business as well as Pepkor Europe, which include Poundland UK.
Write to Carlo Martuscelli at carlo.martuscelli@dowjones.com
(END) Dow Jones Newswires
January 18, 2018 09:28 ET (14:28 GMT)
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