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Hapag-Lloyd AG: Partial early redemption of US dollar bond
DGAP-News: Hapag-Lloyd AG / Key word(s): Bond
2015-11-30 / 15:05
The issuer is solely responsible for the content of this announcement.
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Further optimisation of capital structure / Reduction of cost of capital
In the context of a continuous effort in optimising its capital structure
and reducing interest costs, Hapag-Lloyd is announcing the call (repayment)
of US$ 125 million in principal amount of its US dollar denominated bond
due 2017 (Reg. S bonds: ISIN USD33048AA36 / Rule 144A bonds: ISIN
US41135QAA22) for partial redemption approximately two years prior to the
maturity date on 15 October 2017.
The bond, with an aggregate principal amount of US$ 250 million, was issued
in October 2010 with an annual coupon of 9.75%, reflecting high interest
rate levels as a consequence of the financial crisis at that time.
The partial redemption is conditional upon the successful completion of a
refinancing of the Company's Fleet Financing 2011 with a new vessel
financing facility in an amount of at least $115,000,000 provided by
existing relationship banks of Hapag-Lloyd.
"With the early partial redemption of our US dollar bond, we are reducing
Hapag-Lloyd's cost of capital with tangible savings to our shareholders",
said Nicolás Burr, Chief Financial Officer of Hapag-Lloyd. "Along with the
recent announced restructuring of existing vessel financings the early
partial redemption further improves our financial position and we make a
step forward in our plan to reduce our interest costs and add more
financial flexibility."
The call notice for the partial redemption was sent to the trustee and
bondholders today. The early redemption will take place on 30 December 2015
if the condition to the redemption is fulfilled. The redemption price is
102.4375% of the principal amount of the redeemed bonds, plus accrued and
unpaid interest. Hapag-Lloyd may decide to further redeem the US dollar
bond in full or partially prior to maturity in 2017.
About Hapag-Lloyd
With a fleet of 175 modern container ships, Hapag-Lloyd is one of the
world's leading container liner shipping companies. The Company has approx.
10,000 employees at 353 sites in 117 countries. Since the merger with
CSAV's container business in December 2014, the Hapag-Lloyd fleet has
offered a total transport capacity of almost one million standard
containers (TEU) as well as a container fleet of 1.6 million TEU -
including one of the world's largest and state-of-the-art reefer fleets.
122 liner services worldwide ensure fast, reliable connections between all
the continents. Hapag-Lloyd is a founding member of the G6 Alliance, one of
the largest shipping alliances worldwide. Hapag-Lloyd is one of the leading
operators in the Atlantic and Latin America trades.
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2015-11-30 Dissemination of a Corporate News, transmitted by DGAP - a
service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
The DGAP Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
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Language: English
Company: Hapag-Lloyd AG
Ballindamm 25
20095 Hamburg
Germany
Phone: +49 (0) 40 3001 - 2896
Fax: +49 (0) 40 3001 - 72896
E-mail: [email protected]
Internet: www.hapag-lloyd.com
ISIN: DE000HLAG475, USD33048AA36
WKN: HLAG47, A1E8QB
Listed: Regulated Market in Frankfurt (Prime Standard), Hamburg;
Regulated Unofficial Market in Berlin, Dusseldorf,
Hanover, Munich, Stuttgart, Tradegate Exchange
End of News DGAP News Service 
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