Cobalt has assisted a syndicate of banks with Nordea Bank Finland Plc as the arranger in a EUR 280 million financing to AS Tallink Grupp for the refinancing of the Group's existing loans.
In addition to Nordea Bank Finland Plc, the syndicate of banks included Norddeutsche Landesbank Girozentrale, Danske Bank A/S, KfW IPEX Bank GmbH, AS Swedbank, Skandinaviska Enskilda Banken AB, and HSH Nordbank AG. The final maturity of the floating interest rate euribor-based loan is six years.
The Tallink Grupp announced that the loan will be used to repay the outstanding balance of EUR 440 million loan taken in December 2012 and to strengthen the working capital position of the company.
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 and Tallinn Swedish Line Ltd. The loan is secured by the mortgages on the ships belonging to these subsidiaries, excluding Tallink Autoexpress Ltd owned Silja Europa.
The Cobalt team consisted of Partner Marina Tolmatshova and Senior Associate Kristjan Kotkas.
