Retailer Steinhoff’s local unit has secured a new $300 million loan from its existing banking syndicate.
Steinhoff Asia Pacific announced on Tuesday morning that the new loan was struck on normal commercial terms and was based on the operating performance of its local business.
Six banks, including domestic and offshore names, tipped into the offer. King & Wood Mallesons was advising the domestic lenders on the financing, while Steinhoff Asia Pacific appointed law firm Minter Ellison and corporate restructuring firm Ferrier Hodgson “to provide strategic advice in relation to legal, financial and corporate matters”.
Steinhoff Asia Pacific chief executive officer Michael Ford said the new loan came without any “unplanned” asset sales o…
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