Mærsk Hammers Out Multi-Billion Facility
- Business & Finance
A.P. Møller – Mærsk A/S has today successfully completed a $5.1bn syndicated revolving credit facility with a selected group of 21 banks.
A.P. Møller – Mærsk A/S has consequently proactively addressed the upcoming refinancing in 2015, taking advantage of current favourable conditions in the global bank loan market and reduced the financial costs.
“We have received strong support from our global relationship banks who all participate in the transaction. The facility was oversubscribed and we are very pleased with the terms and conditions of the new facility.
With the new facility we have extended the maturity profile of our finance commitments, reduced cost and confirmed our global banking group,” said Jan B. Kjærvik, Head of Group Finance and Risk Management.
The facility has a maturity of 5 years which may be extended by up to two years and will be used for general corporate purposes.
June 5, 2014