Hapag-Lloyd navigates reverse enquiry for 2018 tap
German container shipping company Hapag-Lloyd safely shipped a €150m add-on to its 7.75% 2018 bond, which was first sold three weeks ago. The tap was priced in line with guidance and traded up on the break.
Bookrunners Deutsche Bank (lead left), together with Citigroup and JP Morgan released talk in the 101.5 to 102 area on Wednesday and later priced the tap at 101.75 to yield 7.326%.
The deal was trading around 102.125 on Thursday morning, according to a banker close to the deal.
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