Hapag-Lloyd is issuing fresh debt in order to repay an outstanding bond in US dollars.
The German boxship owner has launched an offering for senior notes worth EUR 150m ($158.9m) due in 2022.
Initially, $50m will be used to partially redeem its outstanding US dollar notes maturing in 2017.
Remaining proceeds will be used for general corporate purposes, including further repayment of existing debts, the company added.
Shares in Hapag-Lloyd were changing hands at EUR 26.16 each following the announcement earlier this morning, down by 0.5%.
Hapag-Lloyd is working on its merger with United Arab Shipping Co (UASC), which has been given the green light from most competition authorities worldwide.
