AP Moller-Maersk raises US$925 million from Luxembourg-issued 7-year bonds

DANISH shipping giant, AP Moller-Maersk, has raised US$925 million from Luxembourg-issued seven-year bonds, yielding 3.37 per cent, will be used for general corporate purposes, the company said.

"This was a successful transaction with a lot of support," Maersk's head of group finance Jan Kjaervik told Reuters. "The book is oversubscribed, and we got a big amount and the price was at the low end of our expectations."

The bonds were placed with Barclays, Danske Bank, ING, JP Morgan, Nordea and Mitsubishi Securities. This follows a NOK3 billion (US$508 million) Norwegian bond issue in March.