Hapag-Lloyd AG has successfully placed Senior Notes and was able to upsize the volume from the originally announced EUR 300 million to EUR 450 million due to high demand. The Senior Notes are issued with a maturity of seven years and a coupon of 5.125%. The emission price was 100%. The proceeds will be used to redeem Hapag-Lloyd’s existing 7.75% and 7.50% Senior Euro Notes due 2018 and 2019.

“The successful placement is proof of the confidence Hapag-Lloyd enjoys on the capital markets as one of the world’s leading liner shipping companies. Now we can replace two existing notes with significantly more favorable notes, which will lower our interest burden,” said Nicolás Burr, Chief Financial Officer of Hapag-Lloyd.

The Notes will be listed on the Luxembourg Stock Exchange.

Source: Hapag-Lloyd