Container shipping giant A.P. Moller-Maersk A/S is reportedly selling dollar-denominated green bonds for the first time ever, with a $750 million issue.
The Copenhagen-based company is selling the bonds maturing in 10 years, Bloomberg reported, citing unnamed sources.
The offering may yield 1.65 percentage points above Treasuries, after initial discussions of around 1.9 percentage points, the report said.
The proceeds from the offering will go to finance or refinance the company’s green assets, which may include fixed assets, capital and operating expenses, as well as acquisitions of firms that derive at least 90 percent of their revenue from activities such as clean transportation and green buildings, said the person.
Bloomberg said Maersk did not comment on the issue.
The company issued its first green bond in November 2021, raising 500 million euros ($537 million) with a 10-year note.
The company at the time said the proceeds will be used to finance the planned purchase of eight methanol-powered vessels. A push to decarbonise the shipping sector, which has long depended on carbon-intensive heavy fuel oil, is gaining momentum, but still has a long way to go, according to analysts at BloombergNEF.
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