‘Color Magic’ re-financed

2018-12-17T08:48:51+00:00 December 17th, 2018|Finance|

Color Group has signed a new five-year financing agreement for the cruise/ferry ‘Color Magic’.

The new revolving credit facility is valued at NOK1,200 mill, with the same covenant structure as existing vessels mortgaged loans.

The re-payment profile is 10 years. The first drawn tranche, which re-finances the existing loan facility, due in September, 2019, will be about NOK500 mill.

Financing this transaction were: Nordea (Bookrunner, MLA and Agent), Danske Bank (MLA), ABN Amro (MLA), SEB (MLA), Sparebanken Møre (Arranger), and DnB (Arranger).

This transaction was substantially oversubscribed by the participating banks, Color Group said in an Oslo Bors filing.