AS Tallink Grupp says it has signed a loan agreement in the amount of EUR 110 million. The financing is arranged by Nordea Bank AB (publ), Finnish Branch, Danske Bank A/S, Finland Branch and HSH Nordbank AG. The payment- and security agent is Nordea Bank AB (publ), Finnish Branch. The final maturity of the floating interest rate euribor based loan is six years.
The loan will be drawn in October 2018 and proceeds are used to repay the NOK 900 million bonds issued in June 2013 and to terminate the related hedge transactions. As a result of the transaction Group’s refinancing risk decreases.
The new loan is guaranteed by Tallink Fast Ltd., a subsidiary of AS Tallink Grupp and is secured by the mortgage on the vessel Baltic Princess belonging to the same subsidiary.