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Hapag-Lloyd calls €250 million 7½% notes due 2019 at 101.875
By Susanna Moon
Chicago, Aug. 23 – Hapag-Lloyd AG issued a redemption notice for its €250 million principal amount of 7½% senior notes due 2019.
The note will be redeemed on Oct. 15 at a price of 101.875% of par plus €9,375,000 of accrued interest to the redemption date for a total cost of €264,062,500 plus any additional amounts, according to the company call notice.
Settlement will occur on Oct. 16.
The record date will be the business day immediately before the redemption date.
The principal paying agent is Deutsche Bank AG, London Branch. The Luxembourg paying agent is Deutsche Bank Luxembourg SA.
The company said on July 3 that it plans to redeem its euro bonds due 2018 and its euro bonds due 2019 in October using proceeds of a new issue.
As reported, Hapag-Lloyd priced an upsized €450 million of seven-year senior notes at par to yield 5 1/8% on July 5, increased from €300 million.
The issuer is a Hamburg, Germany-based container ship company.
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