Tallink receives Finnish Government guarantee for additional loan
The Government of the Republic of Finland today approved a state guarantee of up to EUR 90 million for a EUR 100 million loan to Tallink Silja Oy, a subsidiary of AS Tallink Grupp, Tallink says in a press release.
„We are very grateful to the Finnish Government for the state guarantee that will be given to the loan of EUR 100 million for our subsidiary Tallink Silja Oy. Tallink Grupp has been working on securing its long-term liquidity since the beginning of the crisis, in order to secure the company’s sustainability in these challenging times that have arisen due to the pandemic. We have also, from the beginning, emphasised that we do not expect the Estonian Government alone to solve all Tallink’s problems. We have received a lot of understanding and support during this crisis from our existing loan partners, the Estonian state and have now also further secured our future with today’s decision with the Finnish state guarantee,“ Paavo Nõgene, CEO of Tallink Grupp said.
AS Tallink Grupp will issue a separate and more detailed stock exchange announcement upon the signing of the loan agreement.
AS Tallink Grupp is one of the leading providers of passenger transport and cargo transport services in the northern part of the Baltic Sea region. The company owns 15 vessels and operates seven ferry routes under the brand names of Tallink and Silja Line. AS Tallink Grupp employs over 6,000 people in Estonia, Finland, Sweden, Latvia, Russia and Germany. In 2019, Tallink Grupp provided services to 9.8 million travellers and transported approximately 380,000 freight units of goods. The shares of Tallink Grupp are listed on the Tallinn Stock Exchange and Nasdaq Helsinki Stock Exchange.