Denmark’s A.P. Moller launches tender offer for three series of notes

By Sarah Lizee

Olympia, Wash., Dec. 10 – A.P. Moller – Maersk A/S announced the launch of a tender offer for any and all of its €500 million principal amount of floating-rate notes due March 2019 and €750 million principal amount of 3.375% notes due Aug. 28, 2019, as well as a capped tender for up to €750 million of its €1 billion of 1.75% notes due 2021.

The tender price is 100.4% for the floating-rate notes and 102.535% for the 3.375% notes. The tender price for the 1.75% notes will be the interpolated mid-swap rate on Dec. 18 minus a spread of 35 basis points.

The offers will expire at 11 a.m. ET on Dec. 17. Settlement is expected to take place on Dec. 20.

Citigroup Global Markets Ltd. (+44 20 7986 8969 or liabilitymanagement.europe@citi.com), Commerzbank AG (+49 69 136 59920 or liability.management@commerzbank.com) and NatWest Markets plc (+44 20 7678 5282 or liabilitymanagement@natwestmarkets.com) are the joint dealer managers.

The tender and information agent is Citibank, NA, London Branch (+44 20 7508 3867 or citiexchanges@citi.com).

The issuer is a business conglomerate operating in global trade, transport and energy based in Copenhagen.

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