A.P. Møller Mærsk secures $5.1bn revolving credit facility

By Joseph R. Fonseca
Friday, June 06, 2014
A.P. Møller - Mærsk Logo

A.P. Møller - Mærsk A/S has today successfully completed a USD 5.1bn syndicated revolving credit facility with a selected group of 21 banks. The new facility is arranged by the company itself and refinances a USD 6.75bn facility maturing in 2015.

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," says 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.

Bank of America Merrill Lynch International Limited, The Bank of Tokyo-Mitsubishi UFJ, Ltd., Barclays Bank PLC, BNP Paribas, Citi, Commerzbank Aktiengesellschaft, Danske Bank A/S, HSBC Bank plc, Nordea, The Royal Bank of Scotland plc, Santander Global Banking & Markets, SEB and Svenska Handelsbanken AB (publ) joined as Mandated Lead Arrangers. Crédit Agricole Corporate and Investment Bank, Deutsche Bank Luxembourg, DNB, ING Bank N.V., J.P. Morgan Limited, SMBC, Société Générale and Standard Chartered Bank, joined as Lead Arrangers. Danske Bank acted as Documentation Bank and Agent.

 

Maritime Today


The Maritime Industry's original and most viewed E-News Service

Maritime Reporter June 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Contracts

Baltic Index up for Third Straight Session

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, rose on Friday, for a third straight session, on rising demand across all vessel segments.

Asia Tankers-VLCC Rates to Climb Slowly

Around 47 MidEast charters fixed for July loading so far; older tonnage and new vessels a drag on freight rates. Freight rates for very large crude carriers

BIMCO Launches New Standard Agreements for Novation of Shipping Contracts

BIMCO has published three standard novation agreements that provide a legal framework to change one of the original parties to a contract.   Two of the agreements

Legal

Statoil’s 50 years to be Recorded

Statoil has decided to launch a large project to write the story about the company for its 50th anniversary in 2022. The University of Oslo has been chosen the

MISC Publishes its 2015 Sustainability Report

MISC Berhad (MISC) today announces the publication of its 2015 Sustainability Report, covering the Company’s commitment, strategy and performance for the year ended

Vandermeiren is CEO, Antwerp Port

Jacques Vandermeiren (52) has been appointed CEO of Antwerp Port Authority as of 1 January 2017. He succeeds Eddy Bruyninckx who after 25 years at the head of the

Finance

VEB Guarantees $3 Bln of Yamal LNG Debt

Russian development bank VEB said on Friday it had provided a guarantee for $3 billion of debt to the Yamal liquefied natural gas (LNG) project, led by Russian gas firm Novatek.

US Oil Drillers Cut Rigs after 3 Weeks of Additions

U.S. oil drillers cut rigs this week for a 20th week this year after three weeks of additions, according to a closely followed report on Friday, as crude prices

World Stocks Tumble as Britain Votes for EU Exit

Global capital markets reeled on Friday after Britain voted to leave the European Union, with $2 trillion in value wiped from equity bourses worldwide, while money

Energy

VEB Guarantees $3 Bln of Yamal LNG Debt

Russian development bank VEB said on Friday it had provided a guarantee for $3 billion of debt to the Yamal liquefied natural gas (LNG) project, led by Russian gas firm Novatek.

US Oil Drillers Cut Rigs after 3 Weeks of Additions

U.S. oil drillers cut rigs this week for a 20th week this year after three weeks of additions, according to a closely followed report on Friday, as crude prices

World Stocks Tumble as Britain Votes for EU Exit

Global capital markets reeled on Friday after Britain voted to leave the European Union, with $2 trillion in value wiped from equity bourses worldwide, while money

Fuels & Lubes

Conrad Shipyard Forms LNG Business Unit

Conrad Shipyard has formed a new business unit focused on LNG projects.   Conrad, builder of North America’s first LNG bunker barge scheduled for 2017 delivery,

Klüber Synthetic Gear Oils Offer Max Efficiency

Klüber Lubrication, manufacturer of specialty lubricants, provides high-performance gear oils that are based on high-grade raw materials and advanced additives,

Alfa Laval Announced Plans for SMM 2016

At SMM 2016, Alfa Laval will mark the 100th anniversary of its first marine separator, and present marine customers with more new solutions.   Over the course of a century,

Container Ships

MSC Jade Sails with MAN's Biggest Engine

The largest and most powerful engine from MAN Diesel & Turbo’s portfolio ever designed and built has entered service.   Built by Doosan Engine in Korea and rated at 75,

Slowing Shipping Fleet Growth to Ease Officer Shortage

Slowing growth in the size of the shipping fleet will reduce the shortage of officers over the coming years, according to the latest Manning report published by global shipping consultancy Drewry.

Kuriyama Joins Matson Board of Directors

The Board of Directors of Matson, Inc. has appointed Stanley Kuriyama as a director of the company, effective June 23, 2016.   Kuriyama is the Executive Chairman of Alexander & Baldwin, Inc.

News

Denmark Adopts Digital Ship Certification

As of June 24, 2016, ships flying the Danish flag are being digitally certified, making Denmark one of the first countries to put an end to the 100-year-old tradition

Conrad Shipyard Forms LNG Business Unit

Conrad Shipyard has formed a new business unit focused on LNG projects.   Conrad, builder of North America’s first LNG bunker barge scheduled for 2017 delivery,

Prince Charles Places Final Section of UK Aircraft Carrier

The second of the largest warships ever built for the U.K. Royal Navy, the Queen Elizabeth Class carrier HMS Prince of Wales, was given the royal seal of approval when HRH The Prince of Wales,

Vessels

US Navy Accepts Delivery of Future USS Montgomery

The U.S. Navy has accepted delivery of future USS Montgomery (LCS 8) during a ceremony on June 23 at the Austal USA shipyard in Mobile, Ala.   Marking the official

Kiel is First German Port of Call for Mein Schiff 5

The brand-new TUI Cruises newbuilding Mein Schiff 5 has arrived in Kiel – her first German port of call since being handed over in Turku, Finland, a few days ago.

ST Marine Delivers 4th Patrol Vessel to Oman

Singapore Technologies Marine Ltd (ST Marine), the marine arm of Singapore Technologies Engineering Ltd (ST Engineering), has held the Interim Acceptance ceremony

 
 
Maritime Careers / Shipboard Positions Maritime Security Maritime Standards Naval Architecture Navigation Offshore Oil Pipelines Pod Propulsion Ship Simulators Sonar
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1283 sec (8 req/sec)