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May 21, 2008

Steinhoff to issue convertible bond, shares fall

South African furniture retailer Steinhoff International said on Wednesday it will issue a 1.5 billion rand convertible bond, sending its shares down as much as 4.5 percent.

Steinhoff said proceeds of the bond, which will be convertible into ordinary shares and is due to mature on July 20, 2015, will be used for corporate purposes.

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Posted by StaffWriter at May 21, 2008 10:38 AM