A.P. Møller – Mærsk A/S announced today the successful completion of a USD $5.1 billion syndicated revolving credit facility with a selected group of 21 banks.
The new facility refinances a USD $6.75 billion facility that had been arranged in 2010 which matures next year. Maersk cites “current favourable conditions in the global bank loan market and reduced the financial costs” as their reason for the early refinance.
“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,” says Jan B. Kjærvik, Head of Group Finance and Risk Management.
According to Maersk, 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.
Join the gCaptain Club for curated content, insider opinions, and vibrant community discussions.
Join the 110,495 members that receive our newsletter.
Have a news tip? Let us know.
By Julian Lee (Bloomberg) Moscow’s use of the tankers sanctioned for their involvement in the Russian oil trade is accelerating, with close to one-third of the blacklisted vessels back at work....
By Gautam Naik (Bloomberg) After fearing the worst from Hurricane Milton, investors in catastrophe bonds appear to have sustained losses well below those predicted as recently as Wednesday. Estimates that had...
Oct 8 (Reuters) – Former Amazon.com Consumer CEO Dave Clark said on Tuesday his new software supply chain management startup Auger has raised over $100 million in private equity funding from Oak HC/FT and...
Access exclusive insights, engage in vibrant discussions, and gain perspectives from our CEO.
Sign Up
Maritime and offshore news trusted by our 110,495 members delivered daily straight to your inbox.
Essential news coupled with the finest maritime content sourced from across the globe.
Sign Up
Join The Club
