Steinhoff seeks debt maturity extensions to lubricate settlement bid
Proposal also on the agenda of litigants, regulators and creditors who are to decide on R16.5bn offer
28 July 2020 - 07:45
UPDATED 28 July 2020 - 20:25
Steinhoff plans to ask creditors and banks to extend debt maturities from end-2021 to June 2023 to enable it to reach a settlement with litigants in the wake of the accounting fraud that has left it fighting for survival.
On Monday, it made a R16.5bn offer to the 90 multi-jurisdictional claimants who lost billions when the share price plummeted in December 2017 in the wake of the biggest fraud in SA corporate history...
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