Steinhoff says creditor challenges debt restructuring

11th January 2019

By: Reuters

  

Font size: - +

South African retailer Steinhoff said on Thursday a creditor is challenging the company's plans to restructure its convertible debt into new secured loans.

Steinhoff is in the middle of a cleaning up its balance sheet after discovering a multibillion euro holes in its balance sheet more than a year ago.

Under the so-called company voluntary arrangement, or CVA, Steinhoff wants to restructure three series of equity-linked bonds due 2021, 2022 and 2023 into a new secured loans.

The challenge was brought by a creditor called LSW GmbH, Steinhoff said, without giving reasons behind it.

Edited by Reuters

Comments

The functionality you are trying to access is only available to subscribers.

If you are already a subscriber, you can Login Here.

If you are not a subscriber, you can subscribe now, by selecting one of the below options.

For more information or assistance, please contact us at subscriptions@creamermedia.co.za.

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION