To view the PDF file, sign up for a MySharenet subscription.

This announcement is published for information purposes only

Release Date: 24/04/2003 14:13
Code(s): SHF
Wrap Text

This announcement is published for information purposes only Steinhoff International Holdings Ltd - Results Of Syndicated Loan Offering Steinhoff International Holdings Ltd (Incorporated in the Republic of South Africa) (Registration number 1998/003951/06) ("Steinhoff") (Share code: SHF ISIN: ZAE 000016176) RESULTS OF SYNDICATED LOAN OFFERING Further to the interim results announcement dated 3 March 2003, the directors are pleased to announce that the Syndicated Loan Programme ("SLP")referred to therein, for Steinhoff Europe AG Austria ("S.E."), a wholly owned group company, has been successfully concluded. The Mandated Lead Arrangers were Citibank International plc (Citigroup) and Commerzbank AG. Commerzbank International SA will act as facility agent. An amount of Euro 125 million, with a "greenshoe" option, was on offer in the form of a credit facility comprising a term loan facility and a revolving credit facility, in both instances with a term of three years and carrying a favourable interest rate. Twelve additional banks joined the syndicate and the SLP closed significantly oversubscribed. Steinhoff and S.E. resolved to increase the SLP to Euro 175 million. The excess commitments above Euro 125 million have been allocated as a Euro 50 million increase in the revolving credit facility. The proceeds of the SLP will be utilised mainly to consolidate existing bilateral banking facilities of S.E. and its subsidiaries and the unutilised portion, as and when required, for general corporate purposes. The Loan Agreement was signed on 15 April 2003 in Frankfurt, Germany. 24 April 2003 Johannesburg Mandated lead arrangers in Europe Citigroup Schroder Salomon Smith Barney & Citibank Commerzbank Securities Sponsor in South Africa Gensec Bank Limited

Share This Story