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Post by ferryfast admin on Dec 12, 2007 13:04:07 GMT -5
Estonian ferry group Tallink signs 144 mln euro loan
Tue Dec 11, 2007 9:30am EST
REUTERS NEWS www.reuters.com/
TALLINN, Dec 11 (Reuters) - Tallink Group (TAL1T.TL: Quote, Profile, Research), a leading ferry operator in the Nordic and Baltic region, said on Tuesday it had signed a loan agreement with Danske Bank in Helsinki for 144 million euros ($211.2 million).
"The loan will be used for financing the new cruise ferry 'Cruise 5' currently under construction in Aker Yards (AKY.OL: Quote, Profile, Research)," it said in a statement.
It said the EURIBOR based, 12-year loan would be drawn on the delivery of the vessel, expected in early 2009. The new ferry is planned for the Tallinn-Helsinki route.
Tallink www.tallink.com/ operates ferries between Finland and Estonia, Latvia and Sweden, Finland and Germany and Sweden and Finland. (Reporting by Patrick Lannin in Riga, editing by Will Waterman)
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