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Steinhoff International Holdings N.V. : Steinhoff successfully debuts in the Euro bond market

DGAP-News: Steinhoff International Holdings N.V. / Key word(s): Bond Steinhoff International Holdings N.V. : Steinhoff successfully debuts in the Euro bond market 18.07.2017 / 15:00 The issuer is solely responsible for the content of this announcement. Press Release

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Steinhoff successfully debuts in the Euro bond market

Amsterdam, 18 July 2017. Yesterday, Steinhoff International Holdings N.V. announced the successful debut placement of a senior unsecured fixed-rate corporate bond with an aggregate principal amount of EUR 800mn. The bond will be issued by its subsidiary Steinhoff Europe AG and will be unconditionally and irrevocably guaranteed by Steinhoff International Holdings N.V.

The bond, which will have a term of 7.5 years and will bear an annual coupon of 1.875%, will be issued in a denomination of EUR 100,000 on 24 July 2017 and will be admitted to trading on the regulated market of the Luxembourg Stock Exchange. Moody's has announced that it will assign a "Baa3 (stable outlook)" credit rating to the bond, which is in line with the long-term corporate rating assigned by Moody's to Steinhoff International Holdings N.V.

The bond was offered to institutional investors after a pan-European roadshow and was met with strong interest for Steinhoff's business model and high investor demand, resulting in an upsize from the initial target size of EUR 500-750mn, and a 4.2x oversubscribed final order book.

Steinhoff intends to use the net proceeds from the issuance of the bond primarily to repay existing financial indebtedness and for general corporate purposes.

BNP Paribas, Credit Agricole CIB and HSBC acted as Global Coordinators and Joint Bookrunners, whilst BofA Merrill Lynch, Commerzbank, Mizuho Securities, The Royal Bank of Scotland plc (trading as NatWest Markets) and UniCredit Bank acted as Joint Bookrunners, and Erste Group, MUFG, NATIXIS and Société Générale acted as Other Bookrunners in connection with the transaction.