COPENHAGEN, March 16 Danish shipping and
oil group A.P. Moller-Maersk said on Friday its 3
billion Norwegian crowns ($518.00 million) placement of
five-year bonds had enjoyed substantially more demand than the
company could meet.
The company had announced the placement after the stock
market closed on Thursday.
"We received commitments for a significantly bigger amount
than we issued, so there was very strong interest among
investors," Maersk's head of finance Jan Kjaervik told Reuters,
referring to the new issue.
Kjaervik declined to say precisely how high the demand for
the bond was.
A.P. Moller-Maersk, which owns the world's biggest container
shipping company Maersk Line, debuted in the corporate bond
market in 2009 with a 750 million euros ($980.29 million) issue,
followed by a 4 billion Norwegian crowns two-tranche issue that
same year and a 500 million euros sale in late 2010.
Those bonds and the new Norwegian crown issue are part of
the Maersk group's 3 billion euros medium-term programme.
($1 = 5.7915 Norwegian krones)
($1 = 0.7651 euros)
(Reporting by Ole Mikkelsen)