January 18, 2018 / 1:52 PM / 4 months ago

BRIEF-Steinhoff: Process And Liquidity Update

Jan 18 (Reuters) - Steinhoff International Holdings Nv :

* DGAP-NEWS: STEINHOFF INTERNATIONAL HOLDINGS N.V. : PROCESS AND LIQUIDITY UPDATE AND WAIVER PROPOSALS TO CERTAIN FINANCIAL CREDITORS

* ‍EXPECTS TO BE IN A POSITION TO PAY CASH INTEREST ON ALL ITS EXISTING FINANCIAL INDEBTEDNESS AT ORDINARY CONTRACTUAL RATE OVER NEAR TERM

* ‍WILL BE RECOMMENDING THAT CERTAIN FINANCIAL CREDITORS SUPPORT GROUP BY PROVIDING LIMITED WAIVERS UNDER CERTAIN EXISTING EUROPEAN FINANCING ARRANGEMENTS​

* IS SEEKING SUPPORT IN AMOUNT OF EUR200 MILLION

* FIRST INSTALLMENT OF EUR60 MILLION WILL BE RECEIVED IN WEEK ENDING 19 JANUARY 2018

* BASED ON CURRENT PROJECTED NEAR-TERM LIQUIDITY REQUIREMENTS IN EUROPE, SEEKS SUPPORT IN AMOUNT OF EUR200 MILLION

* ‍IS CONFIDENT THAT IT WILL RECEIVE SUFFICIENT SUPPORT FROM ITS RELEVANT FINANCE PROVIDERS TO OBTAIN THESE LIMITED WAIVERS​

* ‍THERE CAN BE NO ASSURANCE THAT COMPANY WILL BE ABLE TO REACH AGREEMENT WITH ITS FINANCE PROVIDERS ON ACCEPTABLE TERMS OR AT ALL​

* ‍EXPECTS TO BE IN POSITION TO PAY CASH INTEREST ON ALL ITS FINANCIAL INDEBTEDNESS AT ORDINARY RATE OVER NEAR TERM PERIOD​

* ‍EXPECTS TO REPORT ON TRADING PERFORMANCE OF ITS UNDERLYING BUSINESSES FOR QUARTER ENDING DEC 31 IN LAST WEEK OF FEBRUARY​ Source text for Eikon: Further company coverage: (Gdynia Newsroom)

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