One Square Advisory Services GmbH: Accounting irregularities put Steinhoff's bond prices heavily under pressure; Bondholders should bundle their interests in the near term

  • Accounting irregularities put Steinhoff in stressed situation
  • One Square already in conversations with involved parties and large institutional bondholders
  • Bondholders of the Steinhoff Group can register for free with One Square
  • Registered bondholders will be notified of new developments by One Square
  • Conference call for registered bondholders

Munich, 13. Dezember 2017 – Steinhoff International Holdings N.V., parent company of Steinhoff Europe AG, issuer of the following fixed rate notes:

  • EUR 467.5m 4.500% 11/18 Convertible Notes (ISIN: XS0605635787 / WKN: A1GNRX);
  • EUR 465.0m 4.000% 14/21 Convertible Notes (ISIN: XS1023684282 / WKN: A1ZC1B);
  • EUR 1,116.3m 1.250% 15/22 Convertible Notes (ISIN: XS1272162584 / WKN: A1Z4ZX);
  • EUR 1,000.0m 1.250% 16/23 Convertible Notes (ISIN: XS1398317484 / WKN: A180HY); and
  • EUR 800.0m 1.875% 17/25 Notes (ISIN: XS1650590349 / WKN: A19LXV)

announced on 6. December 2017, following the announcement of the immediate resignation of CEO Markus Jooste, that certain accounting irregularities have emerged which require further investigations. Meanwhile, Steinhoff mandated Moelis and Alix Partners as financial advisors to represent the firm, in the upcoming investigations and the possible effects for investors. The capital markets already reacted to the negative news, leaving the share price to plunge and prices of the bonds issued and guaranteed by the Steinhoff Group to deteriorate.

One Square Advisory Services GmbH ("One Square"), the European restructuring specialist, is in conversations with involved parties and large institutional bondholders. One Square recommends that all bondholders of Steinhoff Group should align and bundle their rights and interests in the best possible way.

Bondholders are encouraged to register with One Square, specifying the bond held, on the home page at or by e-mailing for more information. Registered bondholders will be kept informed of new developments by One Square free of charge and invited to an investor telephone conference.


One Square Advisory Services GmbH
Theatinerstr. 36
80333 Munich