UPDATE 1-Steinhoff to issue convertible bond, shares fall

Newswire

(Adds details, share price) JOHANNESBURG, May 21 (Reuters) - South African furniture retailer Steinhoff International said on Wednesday it will issue a 1.5 billion rand convertible bond, sending its shares down as much as 4.5 percent. Steinhoff said proceeds of the bond, which will be convertible into ordinary shares and is due to mature on July 20, 2015, will be used for corporate purposes. "The proceeds of the ... bonds will be utilised by the group for general corporate purposes, ...

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