ECB dumps Steinhoff stock

ecb-frankfurt-1
The ECB's Frankfurt headquarters

The European Central Bank has sold its holdings of bonds issued by the troubled South African retail firm Steinhoff International, an ECB spokesman has confirmed.

The bonds were bought under the ECB’s Corporate Sector Purchase Programme, as part of its package of quantitative easing policies.

The ECB had purchased approximately €100 million ($119.2 million) of bonds in the company in July 2017, when Steinhoff issued bonds worth €800 million, people familiar with the matter tell Central Banking

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