Steinhoff talks €750 million of 7.5-year senior notes to yield mid-swaps plus 135-140 bps

By Rebecca Melvin

New York, July 17 – Steinhoff Europe AG, a subsidiary of Steinhoff International Holdings NV, plans to price Monday €750 million of senior unsecured notes due January 2025 talked to yield mid-swaps plus 135 basis points to 140 bps, according to a syndicate source.

The Regulation S notes (Baa3) were being sold via BNP Paribas, Credit Agricole CIB and HSBC as global coordinators and joint bookrunners.

Proceeds will be used primarily to repay existing debt.

The deal, which was the subject of investor meetings since July 10, had orders of about €2.4 billion as of early Monday.

Steinhoff is a Stellenbosch, South Africa-based household goods retailer with stores in Europe, Africa and Australia.

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