The German ocean carrier upped the size of a five-year bond from 150 million euros to 250 million euros.
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Hapag-Lloyd headquarters in Hamburg, Germany
With high demand for a bond it offered to investors this week, Hapag-Lloyd said it has upsized the volume of the offering to 250 million euros (U.S. $266 million) from the 150 million euros originally contemplated.
The bond, which has a maturity of five years, has a coupon of 6.75 percent.
After the upsizing of the bond, an increased part of the proceeds, amounting to $125 million, or 117 million euros, will be used for the early full redemption of U.S. dollar notes due this fall.
