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Hapag Lloyd launches Euro bond

Added: 23 January 2017, 00:14

The Hamburg-headquartered shipping group Hapag-Lloyd has launched a euro bond this week. The initial volume of EUR 150 million has now been extended to EUR 250 million. The bond with a maturity of five years has a 6.75% coupon.  

Part of the proceeds, USD 125 million (EUR 117.3 million), will be used for the early redemption of US dollar notes due in autumn 2017. Out of the original amount of USD 250 million of the dollar notes, half were repaid in 2015. The remaining proceeds of the new euro bond will be used for general corporate purposes.

To motivate buyers, Hapag-Lloyd stressed in a statement that it posted a positive net result in Q3/2016 and ebitda of EUR 381.3 million in 9M/2016. The new euro bond is listed on Luxembourg-s stock exchange. 

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