, the Danske Bank Group’s unit for financial markets activities, successfully closed A.P. Møller - Mærsk A/S’s first ever sale of corporate bonds on Friday, October 23, 2009. The issue and sale matched all expectations. €750m issue
The issue involved a total of €750m worth of corporate bonds, and although the sale was very successful, A.P. Møller - Mærsk A/S could have raised even more capital had the company wanted to.
"Within the first three or four minutes investors had placed orders worth €500m, and 30 minutes later orders totalled €3bn," says Bo Wetterstein, Head of Debt Capital Markets at Danske Markets. A good two and half hours later, the transaction closed for orders when the order book exceeded the €5bn limit. According to Bo Wetterstein, such figures are very impressive for a first-time issuer with no public credit rating. Investor attention + credit research = successful transaction
Several factors helped make the transaction so successful, with Danske Markets being the driving force behind the preparation of the issue and the actual placing.
"A.P. Møller - Mærsk did a fantastic job to attract investors, and our credit research really helped investors understand the A.P. Møller - Mærsk credit profile. Both factors laid the groundwork for an exceptionally successful transaction," continues Bo Wetterstein after the sale, which also involved other banks. Focus on good relations
The A.P. Møller - Mærsk A/S issue takes place at a time when Danske Markets has cemented its strong position in both credit and equity research. In September 2009, the Danish Investor Relations Society chose Danske Markets as broker of the year (read the "Best broker" article
Danske Markets is committed to both quality and versatility in its financial services and is dedicated to providing professional assistance to the Danske Bank Group’s large corporate customers through long-lasting, individual relations.
Published on November 2, 2009.