Changes in AS Tallink Grupp’s loan obligations
15 Dicembre 2023 - 8:00AM
Changes in AS Tallink Grupp’s loan obligations
AS Tallink Grupp (“the Group”) has signed a loan
agreement in the amount of EUR 298 million. The financing is
arranged by Nordea Bank Abp, filial i Norge, Danske Bank A/S,
KfW-IPEX Bank GmbH, AS Swedbank and Skandinaviska Enskilda Banken
AB (publ). Nordea Bank Abp, filial i Norge, Skandinaviska Enskilda
Banken AB (publ) acted as coordinators. The payment and security
agent is Nordea Bank Abp, filial i Norge. The loan includes
sustainability-linked clauses. Nordea Bank, Filial i Norge acted as
Sustainability Coordinator.
The final maturity of the Euribor based floating
interest rate loan is five years.
The loan will be used to repay the outstanding balances of the
following loan obligations:
- EUR 280 million loan from the syndicate of banks taken in
December 2016 and amended and restated in December 2022;
- EUR 110 million loan from the syndicate of banks taken in July
2018;
- EUR 60 million revolving credit facility from AS Swedbank taken
in November 2019;
- EUR 100 million loan from Ettevõtluse ja Innovatsiooni SA
(formerly SA KredEx) taken in June 2020;
- EUR 100 million loan from Nordic Investment Bank taken in
November 2020; and
- remaining principal repayments that were postponed during the
COVID-19 pandemic.
As a result of the transaction the Group’s refinancing risk
decreases, repayment profile lengthens, loan service burden
declines and pre-COVID-19 operational flexibility is restored.
The new loan is guaranteed by the subsidiaries of AS Tallink
Grupp: Tallink Sea Line Ltd, Tallink Victory Line Ltd, Tallink Ltd,
Tallink Autoexpress Ltd, Tallinn Swedish Line Ltd, Tallink High
Speed Line Ltd, Tallink Fast Limited and Tallink Hansaway Limited.
The loan is secured by the mortgages on the ships belonging to
these subsidiaries.
Due to the early repayment of these loans, the arrangement fees
that were amortised over the loan period will be written off.
Anneli Simm Investor Relations ManagerAS Tallink Grupp Sadama 5
10111 Tallinn, Estonia E-mail: anneli.simm@tallink.ee
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