It was the big one and it wasn’t high yield! A.P. Moller – Maersk A/S came to Oslo last Thursday looking to issue five-year floating rate senior unsecured bonds. Unusually, no specified amount was mentioned and the company was undecided on a maximum amount although it reserved the right to close the books if the amount exceeded NOK 2.5 billion. Well they blew through that number selling NOK 3 billion ($520 million) of these bonds at par. It is likely one of the biggest corporate NOK deals done.