AP Moller - Maersk secures $5.1bn revolving credit facility

By Admin
AP Moller - Maersk A/S has today successfully completed a $5.1 billion syndicated revolving credit facility with a selected group of 21 banks. The new f...

AP Moller - Maersk A/S has today successfully completed a $5.1 billion syndicated revolving credit facility with a selected group of 21 banks. The new facility is arranged by the company itself and refinances a $6.75 billion facility maturing in 2015.

AP Moller - Maersk A/S has consequently proactively addressed the upcoming refinancing in 2015, taking advantage of current favourable conditions in the global bank loan market and reduced the financial costs.

"We have received strong support from our global relationship banks who all participate in the transaction. The facility was oversubscribed and we are very pleased with the terms and conditions of the new facility. With the new facility we have extended the maturity profile of our finance commitments, reduced cost and confirmed our global banking group," said Jan B. Kjærvik, Head of Group Finance and Risk Management.

The Facility has a maturity of 5 years which may be extended by up to two years and will be used for general corporate purposes.

Bank of America Merrill Lynch International Limited, The Bank of Tokyo-Mitsubishi UFJ, Ltd., Barclays Bank PLC, BNP Paribas, Citi, Commerzbank Aktiengesellschaft, Danske Bank A/S, HSBC Bank plc, Nordea, The Royal Bank of Scotland plc, Santander Global Banking & Markets, SEB and Svenska Handelsbanken AB (publ) joined as Mandated Lead Arrangers.

Crédit Agricole Corporate and Investment Bank, Deutsche Bank Luxembourg, DNB, ING Bank N.V., J.P. Morgan Limited, SMBC, Société Générale and Standard Chartered Bank, joined as Lead Arrangers. Danske Bank acted as Documentation Bank and Agent.

Share

Featured Articles

No going back on e-commerce - FedEx Express AMEA CEO

FedEx Express survey shows that SMEs and consumers in AMEA region feel there’s room for further growth in the already booming e-commerce market

Behavioural science 'key to procurement change' - Loseby

David Loseby of Suppeco tells the Supply Chain Digital show why behavioural science has a vital role to play in procurement digital transformation

Walgreens CPO Jim Townsend to speak at Procurement LIVE

Walgreens Boots Alliance Chief Procurement Officer Jim Townsend will be speaking at Procurement & Supply Chain LIVE London on 13 October

Managing risk 'crucial' - Gartner Supply Chain Symposium

Supply Chain Risk Management

Air cargo resilience is focus of World Cargo Symposium

Logistics

Sustainability measurements lacking, says EY survey

Sustainability