A.P. Moller – Maersk accepts $298.64 million tendered 3.875% notes

By Marisa Wong

Los Angeles, Sept. 15 – A.P. Moller – Maersk A/S announced the results of 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).

As of the expiration deadline at 5 p.m. ET on Sept. 14, holders had tendered $298,637,000 of the notes. The company has accepted all of the tendered notes for purchase, according to a Friday press release.

In addition, $314,000 of the notes were tendered under guaranteed delivery procedures.

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.

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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