A.P. Møller-Maersk has announced that it has successfully completed a US$6.75bn (€5bn) syndicated revolving credit facility with a selected group of 20 different banks.
According to a group statement, the facility has been arranged by the Danish company itself, and refinances a US$6.5bn facility that matures in 2012 with 28 banks.
Maersk said that with the refinancing move, it has proactively addressed the upcoming refinancing in 2012, taking advantage of current favourable conditions in the global bank loan market and reducing the final costs.
'We are very pleased with the terms and structure in our new facility and the process with the banks participating,' said Jan Kjaervik, head of group finance and risk management. 'Our banking group is consolidated, the maturity profile of our finance commitments extended and cost related to the facility reduced. We received strong support from our global relationship banks that have all supported the transaction.'
The facility has a maturity of five years and will be used for general corporate purposes, Maersk said.
Bank of America, Bank of Tokyo-Mitsubishi UFJ, BNP Paribas, Citibank, Danske Bank, Handelsbanken, HSBC, JP Morgan, Nordea and Royal Bank of Scotland acted as Mandated Lead Arrangers and Bookrunners in the transaction and Barclays, Commerzbank, Credit Agricole, Deutsche Bank, DnB NOR, ING Bank, Santander, SEB, Societe Generale and Standard Chartered have joined as Lead Arrangers.
No comments yet