Never Enough – Hapag-Lloyd Extends Bond Issue

Based upon the very strong reception for its previous $700 million issue of Euro and Dollar bonds, it comes as no surprise that Hapag-Lloyd announced on Monday the offering, in a private placement, of an additional EUR 150 million of 9% Senior Notes due 2015. This brings the total raised to in excess of $900 million. The notes will be issued under the original indenture dated October 8, 2010. This incremental amount further aids in the continuing clean-up of the balance sheet.

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