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Hapag-Lloyd calls remaining $125 million 9¾% notes due 2017 at par
By Marisa Wong
Morgantown, W.Va., Jan. 18 – Hapag-Lloyd AG issued a notice of full redemption for its $125 million of 9¾% senior notes due Oct. 15, 2017.
The notes will be redeemed on Feb. 17 at par plus accrued interest from Oct. 15 to the redemption date of about $4.13 million.
The redemption is conditioned on the issuance of new senior notes. The company said it is offering €250 million of senior notes due 2022, and the offering is expected to settle on Feb. 1.
The company issued $250 million of the 9¾% notes in October 2010 and redeemed $125 million of the notes in December 2015, as previously reported.
Deutsche Bank AG, London Branch is the trustee for the Regulation S notes.
Hapag-Lloyd is a Hamburg, Germany-based container shipping company.
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