Steinhoff 'saga' continues with further asset sales

Steinhoff International continued to dispose of assets this week with a R4.8bn (€293m) sale in KAP Industrial Holdings, the South African industrial company, with the company expected to shed more holding to meet its subsidiaries' funding requirements.

  • By Sam Kerr
  • 28 Mar 2019

Standard Bank and Investec were bookrunners on the block trade of 694.2m shares on Tuesday night, a 26% stake in KAP.

The troubled South African conglomerate used the proceeds from the sale to meet its various obligations, including, but not limited to, those arising from its announced debt ...

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All International Bonds

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2 Citi 211,590.92 883 7.70%
3 Bank of America Merrill Lynch 176,561.36 736 6.43%
4 Barclays 164,503.56 674 5.99%
5 HSBC 136,422.24 745 4.97%

Bookrunners of All Syndicated Loans EMEA

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1 BNP Paribas 27,431.07 110 7.85%
2 Credit Agricole CIB 25,823.81 106 7.39%
3 JPMorgan 21,834.93 53 6.25%
4 Bank of America Merrill Lynch 21,382.31 54 6.12%
5 SG Corporate & Investment Banking 16,786.71 79 4.80%

Bookrunners of all EMEA ECM Issuance

Rank Lead Manager Amount $m No of issues Share %
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1 Morgan Stanley 7,509.08 37 9.67%
2 JPMorgan 7,363.27 46 9.48%
3 Goldman Sachs 6,842.44 35 8.81%
4 Citi 5,763.97 41 7.42%
5 UBS 4,691.07 23 6.04%