Bruce Barnard, Special Correspondent | Aug 22, 2012 10:17AM EDT
Danish shipping and energy group A.P. Moller-Maersk raised 750 million euros ($925 million) from a new seven-year bond to be listed on the Luxembourg stock exchange.
Net proceeds from the bond, which yields 3.375 per cent, will be used for general corporate purposes, the parent of ocean carrier Maersk Line said.
“This was a successful transaction with a lot of support,” Maersk’s head of group finance Jan Kjaervik told Reuters. “The book is oversubscribed, and we got a big amount [of money] and the price was at the low end of our expectations.”
The bonds were placed with Barclays, Danske Bank, ING, J.P. Morgan, Nordea and Mitsubishi Securities.
The bond follows a 3 billion Norwegian kroner ($508 million) issue in March.
Contact Bruce Barnard at brucebarnard47@hotmail.com.
