Natixis SA is auctioning Steinhoff International Holdings NV debt, days after Commerzbank AG joined lenders cutting exposure to the troubled retailer, according to people familiar with the matter.
The French bank will sell at least 150 million euros ($185 million) of debt in an auction starting at 3 p.m. in London, according to the people, who asked not to identified because the matter is private. The sale comprises part of Steinhoff’s 2.9 billion-euro revolving credit facility and a block from a $2.2 billion loan raised in the U.S. in 2016.