A.P. Moller takes in tenders for €817.47 million of three note series

By Sarah Lizee

Olympia, Wash., Dec. 18 – Denmark’s A.P. Moller – Maersk A/S said it will accept tenders for €47,342,000 of its €500 million principal amount of floating-rate notes due March 2019, €191,757,000 of its €750 million principal amount of 3.375% notes due Aug. 28, 2019 and €578,371,000 of its €1 billion of 1.75% notes due 2021.

A.P. Moller had launched the tender offer for any and all of the floating-rate notes and 3.375% notes, and the capped tender for up to €750 million of the 1.75% notes.

The tender price is 100.4% for the floating-rate notes, 102.535% for the 3.375% notes and 103.405% for the 1.75% notes. The tender price for the 1.75% notes was set using the interpolated mid-swap rate on Dec. 18 minus a spread of 35 basis points.

The offers expired 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.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.