AS Tallinna Sadam Secures New Loan to Support Growth Plans

Author: Henry Turner Updated: 09-13-2024 09:15 AM

AS Tallinna Sadam Enters Loan Agreement

AS Tallinna Sadam recently made a significant financial move by signing an unsecured loan agreement with AS Swedbank. The loan, totaling EUR 10 million, carries a maturity period of four years and is structured with an interest rate based on the 6-month Euribor plus an interest margin. This financial strategy not only reflects the company's robust position but also its commitment to continual growth.

Purpose of the Loan

The funding from the loan will serve dual purposes for AS Tallinna Sadam. Firstly, it will partially refinance existing debt obligations, ensuring that the company maintains a healthy balance sheet. Secondly, the funds will support the company’s general business needs. The loan is also positioned to function as bridge financing for various investments, positioning Tallinna Sadam to seize new opportunities in a dynamic market.

About AS Tallinna Sadam

Known as one of the largest cargo and passenger port complexes in the Baltic Sea region, AS Tallinna Sadam plays a crucial role in maritime logistics and transportation. Beyond managing passenger and freight services efficiently, the company operates in the shipping sector through its subsidiaries. For instance, OÜ TS Laevad provides essential ferry services connecting the Estonian mainland with its largest islands. Additionally, OÜ TS Shipping has been chartering its versatile vessel, Botnica, for icebreaking and offshore services, highlighting the operational versatility of the company.

Other Ventures and Services

AS Tallinna Sadam further expands its portfolio by holding equity in AS Green Marine, an associate company that specializes in waste management services. This diversified business approach not only enriches the overall service offering but also enhances the company's environmental sustainability efforts.

Investor Relations Contact Information

For more details regarding AS Tallinna Sadam’s financial health and operations, interested parties are encouraged to reach out to its Head of Investor Relations:

Angelika Annus
Head of Investor Relations
Tel. +372 5649 6230
Email: angelika.annus@ts.ee

Frequently Asked Questions

What is the amount of the loan AS Tallinna Sadam secured?

AS Tallinna Sadam secured a loan amounting to EUR 10 million.

What is the maturity period of the loan?

The maturity period for the loan is four years.

How will AS Tallinna Sadam utilize the loan funds?

The loan will be used to refinance existing debts and finance general business needs.

What subsidiary provides ferry services for AS Tallinna Sadam?

The subsidiary OÜ TS Laevad provides ferry services between the Estonian mainland and its islands.

Who can be contacted for investor inquiries?

Angelika Annus, the Head of Investor Relations, is available for inquiries regarding AS Tallinna Sadam.

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