Tallink signs €100 million term loan with Nordic Investment Bank

By Taylor Fox

New York, Nov. 30 – Estonia’s Tallink Silja OY, a subsidiary of AS Tallink Grupp, signed a term loan agreement with Nordic Investment Bank for €100 million, according to a notice.

The loan can be drawn in €10 million to €40 million disbursements.

The loan will be used to finance working capital.

The loan carries a Euribor-based floating rate and has a four-year maturity.

The repayment of the loan starts two years from signing the agreement.

The loan is secured by the mortgages on the consolidation group’s vessels Megastar and Baltic Queen, ranking after the existing creditors and the corporate guarantee of Tallink Grupp.

The government of Finland has issued a state guarantee in favor of Nordic Investment Bank for 90% of the outstanding principal amount of the loan.

Tallink said the transaction will strengthen its liquidity buffers.

The issuer is a shipping company based in Tallinn, Estonia.

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