A.P. Moller – Maersk begins tender for £300 million 4% notes due 2025

By Marisa Wong

Los Angeles, March 24 – A.P. Moller – Maersk A/S is inviting holders of its £300 million 4% notes due April 4, 2025 (ISIN: XS0911553039) to tender any and all of the notes for purchase for cash, according to a notice.

The purchase price will be calculated using the 5% U.K. Treasury due March 7, 2025 and purchase spread of 85 basis points.

The company will also pay accrued interest.

The offer expires at 11 a.m. ET on March 30.

Pricing will be determined at 7 a.m. ET on March 31, after indicative results are announced. Final results will be announced on the same day, after the pricing time.

Settlement is expected to take place on April 4.

The joint dealer managers for the offer are Credit Agricole CIB (+44 20 7214 5903; liability.management@ca-cib.com) and Deutsche Bank AG (+44 20 7545 8011).

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

Maersk is an integrated container shipping company based in Copenhagen.

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