Hapag-Lloyd launches euro bond offering
Hapag-Lloyd AG, a leading global container shipping company, launched a euro bond offering with a volume of EUR 300 million and a maturity of seven years, the Company said Monday in a press release.
The proceeds will be used for the early redemption of the company’s euro bond due in 2018 and the early partial redemption of the euro bond due in 2019. Currently, the redemption is envisaged for October this year.
Hapag-Lloyd is one of the leading companies in the industry and generated an EBITDA of EUR 607.4 million and an EBIT of EUR 126.4 million in 2016. On May 24 Hapag-Lloyd closed the merger with the Arabic liner shipping company UASC expecting annual synergies of USD 435 million from 2019 onwards.