Estonia’s Tallink has landed fresh financing that will help it repay outstanding debt and strengthen its financial position.
The ferry and ro-ro owner has signed a loan agreement of EUR 280m ($290.3m) with a consortium of banks.
Nordea Bank Finland, Norddeutsche Landesbank Girozentrale, Danske Bank, KfW IPEX, Swedbank, Skandinaviska Enskilda and HSH Nordbank are coming up with the cash.
The six-year loan facility will be used to repay a 2012 loan of EUR 440m and will also boost the working capital position of the company, Tallink explained.
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