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2010 August 27   08:50

Hapag-Lloyd to issue 500 mln bond in September

German container shipping company Hapag-Lloyd  plans to issue a bond worth around 500 million euros in September, a source told Reuters.

"We have to take advantage of the currently good market environment," a source close to the matter told Reuters after Hapag-Lloyd's supervisory board had approved the bond issue on Thursday.

HSH Nordbank [HSH.UL] and Deutsche Bank (DBKGn.DE) are among the banks that will manage the bond issue, the source said.

Hapag-Lloyd and shareholder TUI declined to comment.

The shipper also aims to obtain a syndicated credit line of about 500 million euros.

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