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Steinhoff Europe 1 7/8% noteholders form committee, launch discussions
By Caroline Salls
Pittsburgh, Jan. 29 – Steinhoff Europe AG announced Monday that holders of roughly 35% in outstanding principal amount of its €800 million of 1 7/8% notes due 2025 have formed a committee and launched talks with the company and other stakeholders.
According to a news release, PJT Partners has been appointed as the committee’s financial adviser and Latham & Watkins LLP as its legal adviser.
Steinhoff said the committee and those noteholders in contact with the committee’s advisers hold more than 50% of the outstanding principal amount of the notes.
In addition, the committee invited other noteholders to identify themselves to its advisers in order to facilitate future communications and discussions among the noteholders.
Steinhoff is a Stellenbosch, South Africa-based household goods retailer with stores in Europe, Africa and Australia.
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