Allen & Overy has advised Hapag-Lloyd on the successful placement of a €250m (£210m) high-yield bond under New York law.
The bond issue, which was placed with institutional investors, has a maturity of five years and a coupon of 7.75 per cent per annum and was oversubscribed several times. The issue price was 100 per cent. The bonds will be listed on the Luxembourg Stock Exchange.
The Allen & Overy team was led by partner Gernot Wagner (US corporate finance, Frankfurt) and included partners Dr Helge Schäfer (corporate, Hamburg), Dr Oliver Seiler (capital markets) and Thomas Neubaum (banking and finance), counsel Bianca Engelmann (banking and finance) and Dr Bettina Enderle (public law).