| Fri 1 Jul 2011, 17:50 | | SHF - Steinhoff International Holdings Limited - Refinancing for Steinhoff |
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SHF
SHF
SHF - Steinhoff International Holdings Limited - Refinancing for Steinhoff
Europe
STEINHOFF INTERNATIONAL HOLDINGS LIMITED
(Registration number 1998/003951/06)
(Incorporated in the Republic of South Africa)
(Share code : SHF; ISIN Code ZAE 000016176)
("Steinhoff")
REFINANCING FOR STEINHOFF EUROPE
The Board is pleased to advise that Steinhoff Europe AG ("Steinhoff Europe")
has successfully concluded a new syndicated loan facility on 29 June 2011 of
an amount of Euro 1 260 million in the aggregate.
The proceeds will primarily be used for the re-financing of the Euro 780
million bridge facility in respect of Steinhoff`s recent acquisition of
Conforama Holding S.A., the existing Euro 340 million facility which would
have matured in 2013 and other facilities maturing in 2012. As a result,
Steinhoff`s debt maturities with increased liquidity have been extended,
thereby significantly enhancing its credit profile as evidenced by the
improved terms under the new senior unsecured facility.
The new facility with 35 international and European banks, comprises a 5-year
amortising term facility of Euro 540 million and a 5-year multicurrency
revolving credit facility with 3 and 5-year components of Euro 360 million
each. This provides a sound base to support Steinhoff`s growth targets for
the medium term.
The facility was coordinated by Commerzbank Aktiengesellschaft. Commerzbank
Aktiengesellschaft Luxembourg branch acts as the facility agent. The
bookrunners for the facility are Banc of America Securities Limited, BNP
Paribas, Citibank N.A., London Branch, Commerzbank Aktiengesellschaft, HSBC
Bank plc and The Royal Bank of Scotland plc.
By order of the Board
SJ GROBLER
Company Secretary
Wynberg, Sandton
1 July 2011
COMPANY SPONSOR
PSG CAPITAL
MANDATED LEAD ARRANGERS
BANC OF AMERICA SECURITIES
LIMITED
BNP PARIBAS
CITIBANK, N.A. LONDON BRANCH
COMMERZBANK AKTIENGESELLSCHAFT
HSBC BANK PLC and THE HONGKONG & SHANGHAI BANKING CORPORATION
LIMITED JOHANNESBURG BRANCH
THE ROYAL BANK OF SCOTLAND PLC
ABSA CAPITAL, A DIVISION OF ABSA BANK LIMITED
BRED BANQUE POPULAIRE and
NATIXIS
CREDIT AGRICOLE CORPORATE AND INVESTMENT BANK and CREDIT LYONNAIS
DEUTSCHE BANK AG, LONDON BRANCH
GOLDMAN SACHS INTERNATIONAL
RAIFFEISEN BANK INTERNATIONAL AG, RAIFFEISENLANDESBANK
OBEROSTERREICH AKTIENGESELLSCHAFT and RAIFFEISENLANDESBANK
NIEDEROSTERREICH-WIEN AG and UNICREDIT BANK AG
Date: 01/07/2011 17:50:19 Produced by the JSE SENS Department.
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