Home News Hapag -Lloyd Bond fills coffers of the Tui

Hapag -Lloyd Bond fills coffers of the Tui


HB FRANKFURT. The shipping company Hapag -Lloyd has to realign their billion debt issue a corporate bond. The demand for paper was high, so that the volume to 700 million dollars had been increased, as a major shareholder in Tui on Friday night said. Originally, the world’s fifth largest container shipping company collect $ 500 million on the capital market. The money will be paid off debts to Tui . These repayments and new promissory notes would improve the liquidity position of Tui , said the group.

Hapag -Lloyd shipping during the crisis last year, got deep into the red and had to be supported by the owners of 1.8 billion euros. The state granted a 1.2 billion euro guarantee heavy , Hapag- Lloyd but never used and has now returned. For the provision were to high costs, of which Hapag -Lloyd is now free . The shipping company , therefore, assume the interest payments and redemptions granted by Tui financial instruments again, the travel group said then . Tui expect Hapag -Lloyd a payment of approximately € 65 million in deferred interest due and repayment of the bridging loan of € 227 million in early November.

Furthermore, Tui has issued promissory notes in late September in the amount of € 100 million maturing in August 2014.