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Hapag-Lloyd AG: Hapag-Lloyd decides partly redemption of senior note prior to maturity

DGAP-News: Hapag-Lloyd AG / Key word(s): Bond

31.01.2019 / 15:14
The issuer is solely responsible for the content of this announcement.


Hamburg, 31 January 2019

 

Hapag-Lloyd decides partly redemption of senior note prior to maturity

Hapag-Lloyd AG has decided to partly redeem EUR 170 million of its senior note on 11 February 2019 and prior to its maturity 2022 at a fixed redemption price of 103.375 percent. The senior note was issued in February 2017 with an aggregate principal amount of EUR 450 million. The annual coupon is 6.75 percent.

This partial redemption will be done from cash proceeds, predominantly resulting from a settled long-term receivable of United Arab Shipping Company Limited in an amount of USD 152 million (around EUR 133 million as of today). This receivable arose in the course of the business combination with Hapag-Lloyd from the sale of an investment in an associate.

"Further deleveraging and optimizing our capital structure are important goals of our financial agenda. Partly repaying this senior note ahead of maturity is a step on the right direction to reach our leverage target, further improve our repayment profile and continue to reduce interest expenses", said Nicolás Burr, Chief Financial Officer of Hapag-Lloyd.

 

About Hapag-Lloyd
With a fleet of 222 modern container ships and a total transport capacity of 1.6 million TEU, Hapag-Lloyd is one of the world's leading liner shipping companies. The Company has around 12,000 employees and 394 offices in 127 countries. Hapag-Lloyd has a container capacity of approximately 2.6 million TEU - including one of the largest and most modern fleets of reefer containers. A total of 120 liner services worldwide ensure fast and reliable connections between more than 600 ports on all the continents. Hapag-Lloyd is one of the leading operators in the Transatlantic, Middle East, Latin America and Intra-America trades.

Disclaimer
NOT FOR PUBLICATION OR DISTRIBUTION IN THE UNITED STATES, CANADA, JAPAN OR AUSTRALIA. These materials are not an offer of securities for sale in the United States. The securities to which these materials relate have not been registered under the U.S. Securities Act of 1933, as amended (the "Securities Act"), and may not be offered or sold in the United States absent registration or an exemption from registration under the Securities Act. There will be no public offering of the securities in the United States.

These materials are not an invitation nor are they intended to be an inducement to engage in investment activity for the purpose of Section 21 of the Financial Services and Markets Act 2000, as amended ("FSMA"). These materials are directed only at (i) persons outside the United Kingdom; or (ii) persons in the United Kingdom that are "qualified investors" within the meaning of Section 86(7) of FSMA that are also (a) persons authorized under FSMA or otherwise having professional experience in matters relating to investments and qualifying as investment professionals under article 19 of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005, as amended (the "Financial Promotion Order"); or (b) high net worth companies, unincorporated associations and other persons to whom article 49(2) (a) to (d) of the Financial Promotion Order applies; or (c) any other persons to whom these materials for the purposes of Section 21 of FSMA can otherwise lawfully be made available (all such persons together being referred to as "Relevant Persons"). Any person in the United Kingdom that is not a Relevant Person should not act or rely on these materials. The securities or any investment or controlled activity to which such securities relate are only available to, and will be engaged in only with, Relevant Persons.

 

Contact:
Heiko Hoffmann
Senior Director Investor Relations

Hapag-Lloyd AG
Ballindamm 25
20095 Hamburg
Phone +49 40 3001-2896
Fax +49 40 3001-72896
Mobile +49 172 875-2126


31.01.2019 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.
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