HomeChoice Holdings, the Cape Town-based home shopping retailer, has launched a R500 million domestic medium-term note (DMTN) programme listed on the JSE. On 25 October 2013, the group successfully issued R100 million of three-year unsecured notes under this programme.
Group CEO, Shirley Maltz, said that it was pleasing to have successfully issued R100 million of notes in this tough credit environment. The proceeds will secure the platform for the group’s growth strategy over the next few years and would be used for general corporate purposes. This includes funding of the new warehouse and distribution centre in Cape Town, and the continued investment in information technology, including the installation of a new ERP system and electronic platforms.
Global Credit Ratings assigned HomeChoice Holdings a credit rating of BBB+ earlier this year.
The programme memorandum for the R500 million DMTN programme is available on the group’s website www.homechoiceholdings.co.za
HomeChoice Holdings is a credit-based home shopping retailer selling homeware merchandise and financial services products to the rapidly expanding urban middle-income mass market in southern Africa. The group has a database of 1.3 million customers, with 84% being female. Currently 8% of the group’s revenue is generated from the neighbouring countries of Namibia, Botswana, Lesotho and Swaziland.
Issued by Tier 1 Investor Relations on behalf of HomeChoice Holdings
For further information, kindly contact
Shirley Maltz, Group CEO, HomeChoice Holdings Tel 021 680 1057
Graeme Lillie, Tier 1 Investor Relations Tel 021 702 3102 / 082 468 1507