Estonia, Financial Services, Loan, Tourism, Transport
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Friday, 04.07.2025, 08:20
Tallink borrows 24 mln euros to buy Isabelle
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The purchase of the vessel was initially financed by bank overdrafts that will be refinanced with the mentioned loan. The amount of the new loan is EUR 24 million and the maturity is 5 years. The loan will be secured with a mortgage on the cruise ferry Isabelle.
Tallink added that the settlement of the bond issue that took place on 3rd of June has been concluded. The NOK 900 million from the bond issue has been hedged with a cross currency swap until the maturity of the bond. The final interest cost of this bond financing for the company is 3M EURIBOR + 4.88%.
With the proceeds from the bond issue the company prepaid the outstanding loan of EUR 100 million, taken to finance the Superfast vessels in the year 2006. The bank mortgages on the vessels Stena Superfast VII, Stena Superfast VIII and Atlantic Vision (previously Superfast IX) will be released.
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