By Cristal Cody
Tupelo, Miss., June 17 – A.P. Moller-Maersk A/S (Baa3/BBB) priced $500 million of 4.5% 10-year notes on Monday at a spread of 250 basis points over Treasuries, according to a market source.
Initial price talk was in the Treasuries plus 260 bps area.
Barclays, Citigroup Global Markets Inc., Deutsche Bank Securities Inc., J.P. Morgan Securities LLC and SMBC Nikko Securities America, Inc. were the bookrunners.
The company held a roadshow and fixed income investor calls in New York and London at the start of the month for the offering.
A.P. Moller-Maersk is an integrated container shipping company based in Copenhagen, Denmark.
| Issuer: | A.P. Moller-Maersk A/S
|
| Amount: | $500 million
|
| Description: | Notes
|
| Maturity: | June 20, 2029
|
| Bookrunners: | Barclays, Citigroup Global Markets Inc., Deutsche Bank Securities Inc., J.P. Morgan Securities LLC and SMBC Nikko Securities America, Inc.
|
| Coupon: | 4.5%
|
| Spread: | Treasuries plus 250 bps
|
| Trade date: | June 17
|
| Ratings: | Moody’s: Baa3
|
| S&P: BBB
|
| Distribution: | Rule 144A, Regulation S
|
| Marketing: | Roadshow
|
| Price guidance: | Treasuries plus 260 bps area
|
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