Maersk hires banks for possible bond issue

  


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13 Nov 2010

maersk_234.jpgDanish shipping and oil group A.P. Moller-Maersk is considering a new offering of bonds and has engaged banks to advise it. Investor relations chief Henrik Lund said on Friday the group had hired Barclays, BNP Paribas, Danske Bank, HSBC and Royal Bank of Scotland to advise it


Spokesman Michael Storgaard said the group had made no decision on
whether to proceed with a sale. "We are having a series of meetings
with investors to explore a possible bond issue, which is nothing
extraordinary," he said.

A.P. Moller-Maersk, which owns the world's biggest container shipping
company Maersk Line, entered the corporate bond market for the first
time last year with a 750 million euro ($1.0 billion) issue followed by
a 4 billion Norwegian crown ($670 million) issue.

It has repeatedly said it aimed to diversify its sources of funding and
bonds would gradually play a larger role in its financing, replacing
conventional bank debt.

A.P. Moller-Maersk said in its first-half report on Wednesday its net
interest-bearing debt fell $4.4 billion to $13.7 billion in the nine
months to end-September.



Source: Reuters

Sources:  www.Shipid.com

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