Germany’s Hapag-Lloyd to sell €150 million five-year bonds

By Paul A. Harris

Portland, Ore., Jan. 17 – Hapag-Lloyd AG announced in a Monday press release that it intends to sell €150 million of five-year eurobonds.

Berenberg, Deutsche Bank and Credit Suisse are managing the sale, according to a market source.

The notes (Caa1/B-) come with two years of call protection, the source said.

The Hamburg, Germany-based container shipping company plans to use the proceeds to fund the early redemption of its dollar-denominated notes due in autumn 2017 and for general corporate purposes, including further repayment of debt.

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