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Steinhoff plans to give Conforama funders enhanced rights

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The financiers will be allowed to appoint two independent directors to the French unit’s board

Steinhoff on Monday announced key terms for its French unit Conforama’s plan to raise €316m to shore up its finances after sales fell and costs rose.

The financing also includes call protections — a security measure which imposes penalties if a loan is repaid earlier than its maturity date.

 

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