EuropeFinance and Insurance

A.P. Møller-Mærsk issues Eurobonds

A.P. Møller-Mærsk made the most of cheap financing yesterday issuing its first Eurobonds in three years. The Danish shipping giant issued Eurobonds worth EUR600m due in November 2022 with a coupon of 1.5%.

The transaction is A.P. Møller-Mærsk’s first Eurobond offering since 2012 and is expected to be rated BBB+ by S&P and Baa1 by Moody’s. The net proceeds will be used for general corporate purposes, the company said in a release.

The bonds will be listed on the Luxembourg Stock Exchange.

Underwriters were Barclays, Commerzbank, Danske Bank, HSBC, and Société Générale.

Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.
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