Hapag-Lloyd Successfully Places Additional Notes

Maritime Activity Reports, Inc.

February 7, 2017

Pic: Hapag-Lloyd

Pic: Hapag-Lloyd

 Hapag-Lloyd AG has successfully placed Additional Notes and was able to upsize the volume from the originally announced EUR 150 million to EUR 200 million due to high demand. 

The Additional Notes are issued under the indenture dated 1 February 2017 with a maturity of five years and a coupon of 6.75%. 
The emission price was 102.375% leading to a yield to maturity of 6.19%. The proceeds from the sale of the Additional Notes will be used to redeem a portion of Hapag-Lloyd’s existing 7.75% Senior Euro Notes due 2018.
“After successfully refinancing our US dollar bond due in autumn to a significantly lower coupon, with the completion of a bond tap offering, we have now taken advantage of the favorable market environment to also optimize the maturity profile of our other existing bonds,” said Nicolás Burr, Chief Financial Officer of Hapag-Lloyd.
The Additional Notes will be listed on the Luxembourg Stock Exchange.
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