Estonia, Financial Services, Transport

International Internet Magazine. Baltic States news & analytics Saturday, 20.04.2019, 09:48

Tallink repays EUR 120 mln worth of bonds

BC, Tallinn, 18.10.2018.Print version
The listed Estonian shipper Tallink Grupp has repaid in the total amount of 120 million euros senior unsecured bonds worth 900 mln Norwegian kroner that were issued and listed on the Oslo stock exchange in October 2013, informed LETA/BNS.

The bonds were repaid in total amount of 120 mln euros, of which 110 mln euros was drawn from the loan and 10 mln euros from company’s cash reserves, Tallink told the stock exchange.

Tallink in July signed a loan agreement with a consortium of banks worth 110 mln euros to repay the bonds issued in 2013 on the Oslo stock exchange worth 900 mln Norwegian kroner.

The financing was arranged by Nordea Bank, Danske Bank and HSH Nordbank AG. The payment- and security agent is Nordea Bank. The final maturity of the floating interest rate Euribor-based loan is six years.

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.

Tallink Grupp on June 3, 2013 completed the placement of 900 million Norwegian kroner', then worth 118 mln euros, worth of bonds. The sum of 900 mln Norwegian kroner is now worth 95.5 mln euros. Tallink's bonds are senior unsecured bonds, while the maturity date of the 3M NIBOR plus 5% floating interest rate bond was Oct. 18, 2018.

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