Deals
Hapag-Lloyd Ups Bond Size as Investors Gamble on Shipping Upturn
- 250 million euro-note first bond by German carrier since 2014
- Hapag stock has gained 53 percent in last three months
This article is for subscribers only.
Hapag-Lloyd AG boosted the volume of its first bond sale since 2014 by 100 million euros ($94 million) as investors showed heightened demand for the high-yield notes, speculating that global container shipping may finally see a recovery following eight years of crisis.
Germany’s No. 1 container shipping line, seen to close a merger with Mid-East carrier United Arab Shipping Co in the coming weeks, will sell 250 million euros of unsecured notes at a yield of around 7 percent, according to a person familiar with the matter.