A.P. Moller – Maersk sets tender offer price for 3.875% notes

By Marisa Wong

Los Angeles, Sept. 14 – A.P. Moller – Maersk A/S announced pricing for its Sept. 7 tender offer to purchase for cash any and all of its $500 million outstanding 3.875% notes due 2025 (Cusip: 00203QAD9, K0479SAE8), according to a press release.

The purchase price is $972.91 per $1,000 principal amount, calculated using the 5% U.S. Treasury due Aug. 31, 2025 and a fixed spread of 30 basis points.

Pricing was determined at 10 a.m. ET on Sept. 14.

The company will also pay accrued interest.

The offer will expire at 5 p.m. ET on Sept. 14, which is also the withdrawal deadline.

Tenders under guaranteed delivery procedures are due by 5 p.m. ET on the second business day following the expiration deadline.

Settlement is expected to occur on Sept. 18.

Settlement of tenders under guaranteed delivery is expected on Sept. 19.

Citigroup Global Markets Ltd. (+44 20 7986 8969; 800 558-3745 or 212 723-6106; liabilitymanagement.europe@citi.com) and MUFG Securities Americas Inc. (+44 20 7628 5555 / +33 1 70 91 42 55; 877 744-4532 or 212 405-7481; DCM-LiabilityManagement@int.sc.mufg.jp) are the dealer managers.

The tender agent is D.F. King & Co., Inc. (https://sites.dfkingltd.com/Maersk; Maersk@dfkingltd.com; 866 796-1271 or, for banks and brokers, 212 269-5550).

Maersk is a Danish shipping and logistics company based in Copenhagen.

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