Sorry, SIHPL CPU 1,6 Mrd € fällt jetzt wohl aus.
Jetzt muss SIHNV ran, das dürfte kosten:
"SFHG 21/22 CPU
The previous 2021 and 2022 convertible bonds issued by SFHG have been replaced by the 21/22 facility held by Steenbok Lux FInco 1 SARL under which €1.8 billion is outstanding as at 30 September 2019. The 21/22 facility is secured by the SIHPL CPU, whereby SIHPL guarantees €1.6 billion, and the SFHG 21/22 CPU, whereby the Company guarantees the principal amount of €1.7 billion.
In the case where the Company is a co-guarantor, and its co-guarantor and subsidiary has sufficient value to carry the obligation of the guarantee, such guarantee is recognised directly by the co-guarantor. The amount that SIHPL will have available to repay, is dependent on SINVH and Steinhoff Africa repaying intercompany loans to the value of €1.5 billion to SIHPL. In terms of a sum-of-the parts calculation performed on the SINVH Group the Steinhoff Africa and SINVH loans are considered to be recoverable.
The disposal value of the assets under the SIHPL CPU combined with those as guaranteed under the SFHG 21/22 CPU were deemed sufficient to fully cover the value of the debt owed under the 21/22 facility, not taking into account the effects of the litigation and tax related uncertainties as set out in the basis of preparation in this valuation. No liability has been recognised for this CPU.
The potential impact of legal claims and tax uncertainties were not taken into account in determining the shortfall for this CPU as a reliable estimate of the possible outcomes cannot be made."