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Hapag-Lloyd talks €250 million five-year senior notes in 7½% area; pricing Thursday
By Paul A. Harris
Portland, Ore., Nov. 20 – Hapag-Lloyd AG talked a €250 million quick-to-market offering of five-year senior notes (Caa1) in the 7½% area, according to a market source.
The Rule 144A and Regulation S deal is set to price Thursday.
Lead bookrunner Deutsche Bank will bill and deliver. Berenberg is also a lead bookrunner.
Citigroup, HSBC and UniCredit are joint bookrunners.
HSH Nordbank and MM Warburg are co-managers.
The notes come with two years of call protection.
The Hamburg, Germany-based container ship company plans to use the proceeds to partially refinance its existing €280 million of senior notes due 2015.
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