ICBC (Europe) contributes to $5 billion USD syndicated revolving credit facility to A. P. Moller - Maersk A/S in 2020

Project narrative

In 2020, a syndicate of 26 banks — including Industrial and Commercial Bank of China (Europe) S.A. (ICBC (Europe)) — entered into a $5 billion USD syndicated revolving credit facility (RCF) agreement with A.P. Møller – Mærsk A/S for refinancing purposes. The facility refinanced the undrawn $5.1 billion facility maturing in 2021 and has a tenor of five years. It will be part of the company’s liquidity reserve. In 2018, Maersk committed to becoming carbon neutral by 2015. The credit margin under this credit facility would be adjusted based on Maersk’s progress to meet this target. Banco Santander S.A., London Branch, Bank of America Merrill Lynch International Designated Activity Company, Barclays Bank Plc, BNP Paribas, Citibank N.A. London, Commerzbank Aktiengesellschaft, Crédit Agricole Corporate and Investment Bank, Danske Bank A/S, Deutsche Bank, Handelsbanken, HSBC France, MUFG, Nordea, SEB and Standard Chartered Bank joined as mandated lead arrangers. Banco Bilbao Vizcaya Argentaria, S.A., London branch, DNB Bank ASA, Industrial and Commercial Bank of China (Europe) S.A., Brussels branch, ING Bank, J.P. Morgan Securities Plc, Mizuho Bank, Ltd., Morgan Stanley Bank International Limited, Natwest Markets Plc, Sumitomo Mitsui Banking Corporation, Société Générale and the Standard Bank South Africa Limited, Isle of Man branch, joined as lead arrangers. Crédit Agricole and SEB acted as Sustainability Coordinators. MUFG acted as Documentation Agent and BNP Paribas as Facility Agent.