Hapag-Lloyd raises 250 million euros

German shipping company Hapag-Lloyd has successfully issued shares to investors, thus securing the carrier 250 million euros earmarked for paying financial commitments.

Hapag-Lloyd has successfully tapped institutional investors to raise 250 million euros from a bond issuance. The bonds have a maturity of five years at an interest rate of 7.5 percent, and according to Tradewinds, the bond issuance raised 50 million euros more than the 200 million euros Hapag-Lloyd expected.

The proceeds from the bond issuance will be used for, among other things, refinancing the company's existing debts, which currently amount to approximately 200 million euros, and the additional 50 million euros will be used to redeem senior notes due paid in 2015.

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