Thursday, July 7, 2011

Hanjin hunting 13,100TEU financing




Hanjin Shipping is hoping to raise up to $200m from a convertible bond issue this month.

JP Morgan is the sole bookrunner for the deal, which is being marketed at interest of between 3.5% and 4%.

The conversion premium range will be between 20% and 25% over the 6 July closing price of KRW 24,700 ($23.23).

The company revealed last month it was planning to invest $850.6m in five 13,100-teu newbuildings.



Published : July 7, 2011

Source: Asiasis
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