Dr. Roland Lappin, who is responsible for finance and real estate on the Executive Board of Hamburger Hafen und Logistik AG, emphasises: “By placing the promissory note loan, we are taking advantage of the favourable interest rate environment at present. It will enable us to reduce our borrowing costs further, while also minimising the risk of interest rate changes. The favourable conditions will strengthen our earnings power and provide us with additional financial scope to develop the Speicherstadt historical warehouse district, a UNESCO world heritage site.”
The volume of the promissory note loan was originally € 50 million. Due to the strong demand, it was increased to € 75 million. The term ranges from seven to fifteen years. As well as replacing the shareholder loan, the funds are to be used for the further demand-based real estate development of the S division.
Press Release 2 October 2015