COPENHAGEN: A.P. Moller – Maersk has issued a 10-year, €500 million ‘green bond’ to fund the build of its first feeder vessel plus eight large container vessels capable of operating on carbon neutral methanol by 2023 and 2024, respectively.
The transaction, with a final price of €3.7 billion at 0.75 percent, inaugurated the company’s Green Finance Framework designed to issue future sustainable financing instruments including bonds, loans and project finance.
“With this green bond, we aim at diversifying our investor base by reaching out to new investors and increasing the transparency of our ESG ambitions and performance even further towards our stakeholders,” explained Maersk CFO Patrick Jany.
Earlier this month the logistics group reported Q3 earnings of US$16.6 billion – up 68 percent over the same period last year. EBIT rose nearly five times to US$5.9 billion and EBITDA tripled to US$6.9 billion. Return on invested capital increased to 34.5 percent for the past 12 months.
Full-year 2021 EBITDA is expected at US$22 – 23 billion, an underlying EBIT between US$18 –19 billion and a free cash flow of US$14.5 billion.
Story Type: News