Hapag-Lloyd successfully places additional notes

Hapag-Lloyd AG has successfully placed additional notes with a volume of EUR 150 million with institutional investors. The additional notes are issued under the indenture dated September  27, 2013 with a maturity of five years and a coupon of 7.75%. The emission price was 101.75%.

The proceeds from the sale of the additional notes will be used to redeem a portion of Hapag-Lloyd? existing 9% Senior Euro Notes due 2015. Deutsche Bank, London Branch has launched an intermediate tender offer for an amount equal to the gross proceeds from the sale of the additional notes (excluding any accrued interest to be paid).

The purchase price for the Euro notes tendered will be 105.25%. The tender offer will expire on October 17, 2013 and will settle on October 21, 2013. The tender offer has been followed today by a further call for redemption in relation to the balance between the amount of Euro notes tendered under the tender offer and the gross proceeds from the offering of the additional notes. < Korea Shipping Gazette >