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Steinhoff Lender Natixis Follows Commerzbank in Debt Sale

  • French bank to sell at least 150 million euros of financing
  • Commerzbank sold 200 million-euro revolver part in January
A customer browses goods in a display aisles inside a Buco hardware-buildware store, operated by Steinhoff International Holdings NV, in Johannesburg, South Africa, on Thursday, Aug. 31, 2017. 
Photographer: Waldo Swiegers/Bloomberg

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.