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A.P. Moller – Maersk accepts £102.98 million tendered 4% notes due 2025
By Marisa Wong
Los Angeles, March 31 – A.P. Moller – Maersk A/S announced the final results of its March 24 invitation to holders of its £300 million 4% notes due April 4, 2025 (ISIN: XS0911553039) to tender any and all of the notes for purchase for cash.
As of the expiration of the offer at 11 a.m. ET on March 30, holders had tendered £102.98 million of the notes, according to a notice on Friday.
The company said it has decided to accept all of the tendered notes for purchase.
The purchase price is 98.708, calculated using the 5% U.K. Treasury due March 7, 2025 and purchase spread of 85 basis points. Pricing was set at 7 a.m. ET on March 31.
Settlement is expected to take place on April 4.
Because the settlement date falls on an interest payment date, the company will pay interest due on the notes in full, and no additional interest amount will be paid for the tendered notes.
After settlement, £197.02 principal amount will remain outstanding.
The joint dealer managers for the offer are Credit Agricole CIB (+44 20 7214 5903; liability.management@ca-cib.com) and Deutsche Bank AG (+44 20 7545 8011).
The tender and information agent is Citibank, NA, London Branch (+44 20 7508 3867; citiexchanges@citi.com).
Maersk is an integrated container shipping company based in Copenhagen.
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