Steinhoff down, issues convertible bonds

Comment on this story


CorporateBusiness

Johannesburg - Investors in Steinhoff are selling off the stock after the furniture maker launches a convertible bonds that could dilute their shareholding.

Steinhoff is seeking 400 million euros ($542.58 million)in senior unsecured guaranteed convertible bonds due in January 2021.

The proceeds will generally be used on extending the company's debt maturity.

Steinhoff shares are down 2.7 percent at 45.49 rand, lagging a 0.05 percent decline by Johannesburg's All-share index. - Reuters


sign up
 
 

Comment Guidelines



  1. Please read our comment guidelines.
  2. Login and register, if you haven’ t already.
  3. Write your comment in the block below and click (Post As)
  4. Has a comment offended you? Hover your mouse over the comment and wait until a small triangle appears on the right-hand side. Click triangle () and select "Flag as inappropriate". Our moderators will take action if need be.

     

Join us on

IOL-Social networks IOL-Social networks IOL-Social networks IOL-Social networks