Steinhoff makes itself comfortable in euros
Steinhoff Europe, the furniture maker, made its debut in senior euro corporate bond markets on Monday, and was the only issuer to offer investors a transaction on the day. The €800m 7.5 year deal followed a European roadshow last week.
The roadshow for the Baa3-rated issuer was well attended, with Steinhoff having informed investors of its intention to issue a benchmark six year to nine year bond. BNP Paribas, Crédit Agricole and HSBC were the global co-ordinators.
Steinhoff Europe is a wholly owned subsidiary of Steinhoff International
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