HSH Nordbank and European Investment Bank finance deluxe ferryboat for Tallink Grupp
Hamburg/Kiel, July 10, 2008 - The financing for one of the largest ferries traversing the Baltic Sea was structured for the AS Tallink Grupp by HSH Nordbank. The MS “Baltic Princess”, built in the Finnish shipyards Aker Yards OY, was delivered today. The ship is 212 meters long, can travel at up to 24 knots and offers among other things room for 2800 passengers, 12 restaurants, bars, shops and a spacious conference center.
roject costs for the ship, which will be put into service on the Tallinn-Helsinki route, amount to about EUR 165 million. Credit costs of EUR 132 million were financed and syndicated by HSH Nordbank. Also participating in the deal are Nordea Bank Finnland Plc, SEB (Skandinaviska Enskilda Banken) and – for the first time – the European Investment Bank (EIB).
By participating in the project, the EIB has undertaken its first commitment in the Structured Finance Programme for the Estonia region. At the deal signing, EIB President Philippe Maystadt, former finance minister of Belgium, indicated that the fact that HSH Nordbank was taking a leading role was a crucial factor in the EIB’s decision to participate in financing the MS “Baltic Princess".
Andres Hunt, Vice CEO of the Tallink Grupp, explained that they are very pleased with the long-term relationship with HSH Nordbank and that this transaction proves the innovative character of the bank.
HSH Nordbank AG is a strong regional bank in Northern Europe with total assets of € 204 billion. Some 4,800 of the bank’s employees provide corporate and high net-worth clients around the globe with premium bank products and services. In its core region of Hamburg and Schleswig-Holstein, it is the market leader in the corporate customer segment. HSH Nordbank is an acknowledged partner of the capital markets and international sector specialist. Its main focus is on transportation and real estate. In fact, HSH Nordbank is the world’s largest provider of ship finance and covers the entire value chain in the transportation segment. In the area of real estate, HSH Nordbank is one of the strongest banks in Germany, acting as a provider of services relating to all aspects of real estate.
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