Tallink back in the black

For the third quarter of this year, Tallink Grupp’s unaudited net profit was €5.5 mill, compared with a net loss of €23.9 mill in 3Q20. Third quarter EBITDA was €35.1 mill, compared with €5.7 mill in the corresponding quarter of 2020. The Group’s 3Q21 unaudited revenue increased by 18.6%, compared [Read more...]

2021-11-12T18:46:23+00:00 November 12th, 2021|Finance|

WFW advises TUI Cruises for second bond issuance

Watson Farley & Williams (WFW) has advised TUI Cruises on the financial arrangements related to its second bond issuance. This included amendments to all its existing ECA-backed and commercial loans required in order to accommodate this second issuance. TUI Cruises announced the pricing of its offering [Read more...]

2021-10-28T08:46:52+00:00 October 28th, 2021|Finance|

NCLH selects Worldpay as payments partner

Norwegian Cruise Line Holdings (NCLH) has chosen FIS company Worldpay as one of its preferred payments processing providers. The company said that it was seeking to streamline its global payments acquiring and processing services, while accelerating online and mobile checkouts, maximising payment authorisations and ensuring [Read more...]

2021-10-28T08:39:31+00:00 October 28th, 2021|Finance|

Utor takes control of Baleària

After several months of negotiation, Baleària’s partners, Adolfo Utor (57.5% share) and the Matutes Group (42.5%), have agreed to end their over 17-year relationship as partners in the ferry operation. Utor will now take control of 100% of the shares in the shipping company of [Read more...]

2021-10-28T08:37:49+00:00 October 28th, 2021|Finance|

Eckero places bond issue

Ferry operator Rederi Ab Eckerö has completed the placement of a bond loan. This amounted to €62 mill over five years at an interest rate of three EURIBOR + a credit margin of 7%. The agreed issue date is 28th October, 2021 and an application [Read more...]

2021-10-28T08:36:15+00:00 October 28th, 2021|Finance|

Carnival to market term loan facility

Carnival Corp is to start marketing a first-priority senior secured term loan facility. This has an original principal amount of $1.5 bill and matures in 2028. The company said that it intended to use the proceeds from the facility to redeem a portion of the [Read more...]

2021-10-15T08:28:02+00:00 October 14th, 2021|Finance|

Ausonia outlines strategy

Newcomer Ausonia Cruise Holdings has formed a Monaco based corporate entity to act as the main governing body for its cruise-industry investment ventures. A team of experienced finance professionals and cruise industry operating executives have been brought together to form special purpose acquisition companies to [Read more...]

2021-10-14T20:20:18+00:00 October 14th, 2021|Finance|

CMA CGM buys into Brittany Ferries

CMA CGM is to invest €25 mill in Brittany Ferries, which includes €10 mill in quasi-equity. Brittany Ferries is the largest ferry company operating under the French flag, while CMA CGM is a major player in shipping and logistics. Through this agreement, CMA CGM is [Read more...]

2021-09-26T18:02:10+00:00 September 26th, 2021|Finance|