Hanjin Shipping issues $150 million CB

The Korean container and bulk shipping company takes advantage of a rebound in its share price to raise capital, but triggers a 7.3% sell-off in its stock.

<div style="text-align: left;"> The 75,000-tonne container ship Hanjin Tianjin, which was attacked by pirates in the Indian Ocean in April (AFP) </div>

Anette Jönsson

July 08, 2011

The shipping industry’s near-term outlook remains questionable amid slowing economic growth and a debt default in Europe not quite off the table yet, but after a rebound in its share price during the past two weeks Korea’s Hanjin Shipping saw a chance to raise new capital from a convertible bond issue on Wednesday.

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