EQS-Adhoc

Steinhoff International Holdings N.V. : UPDATE ON MATURITY EXTENSION TRANSACTION

EQS-Ad-hoc: Steinhoff International Holdings N.V. / Key word(s): Miscellaneous Steinhoff International Holdings N.V. : UPDATE ON MATURITY EXTENSION TRANSACTION 16-Dec-2022 / 12:55 CET/CEST Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by EQS News - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. DISCLOSURE OF INSIDE INFORMATION PURSUANT TO ART. 17 OF THE EU MARKET ABUSE REGULATION (EU 596/2014, MAR)

 

STEINHOFF: UPDATE ON MATURITY EXTENSION TRANSACTION

Steinhoff International Holdings N.V. is referred to as “SIHNV” or the “Company” and with its subsidiaries, “Steinhoff” or the “Group”; “Group Services Debt” means the indebtedness under (i) the Contingent Payment Undertakings (“CPUs”) entered into by SIHNV; and (ii) the debt facilities entered into by Steenbok Lux Finco 1 S.à.r.l. (“LuxFinco 1”), Steenbok Lux Finco 2 S.à.r.l. (“LuxFinco 2”) and Hemisphere International Properties B.V. (“Hemisphere”) (the instruments together, the “Group Services Debt Facilities”), each as amended from time to time.

Further to the announcement published on 15 December 2022, the Company announces that it has received an agreement in principle from the largest financial creditors under the Hemisphere facilities to extend maturities of those facilities on the following key economic terms (“Hemisphere Term Sheet”):

Hemisphere Facility	Current terms	Proposed amendment
Amount (per 30 June 2023)	EUR132m	Will be increased by the amount of the consent fee (1%)
Maturity date (debt and CPU maturity)	30 June 2023, with a six-month extension option	30 June 2026, with two one-year extension options
Interest rate	10% PIK, semi-annual	15% PIK, semi-annual
CPU and Recovery cap	First ranking claim on Hemisphere CPU