A.P. Moeller-Maersk's first dollar issuance, completed Monday with proceeds totaling USD 1.25 billion, will likely not be a one-time event. The Danish conglomerate has secured access to dollar bonds, and this represents an attractive opportunity for the highly dollar-expanding business, according to Head of Group Finance Jan Kjærvik.
"We're a company that needs dollars, so when we issue bonds in other currencies we have to go out change the proceeds into dollars. We received credit ratings from Moody's and Standard & Poor's last year, with the purpose of gaining access to the US bond market, which requires a rating," Jan Kjærvik tells Danish news agency Ritzau Finans.