ANNOUNCEMENT 27 Nov 2020

In November 2020, the Nordic Investment Bank (NIB) signed a loan agreement with Tallink Silja to finance the company’s liquidity position and strengthen its ability to continue operations under the COVID-19 pandemic. 

NUMBER OF INTERVENTIONS

1

  • 1 harmful
  • 0 neutral
  • 0 liberalising

SOURCE

Nordic Investment Bank: Finland. Tallink Silja Oy. Available at: https://www.nib.int/what_we_offer/agreed_loans/777/tallink_silja_oy

NIB. Who we are/ Q&A. Available at: https://www.nib.int/who_we_are/q_a

Inception date: 27 Nov 2020 | Removal date: open ended

State loan

On 27 November 2020, the Nordic Investment Bank (NIB) and Tallink Silja Oy signed a loan agreement with the total value of EUR 100 million (approx. USD 119.6 million). The maturity of the loan is 4 years. The loan will finance the company’s liquidity position and strengthen its ability to continue operations under severely changed market conditions caused by the COVID-19 pandemic.

Tallink Silja Oy, subsidiary of Tallink Grupp, is a shipping company that operates cruise ferries and roll on/roll off passenger ferries between Estonia, Finland, Sweden and Latvia.

The NIB is an international financing bank and is jointly owned by Denmark, Estonia, Finland, Iceland, Latvia, Lithuania, Norway and Sweden. The bank provides financing to private and public projects mainly located in the eight countries at attractive conditions. The eligibility criteria of NIB financing is that: "All projects financed by NIB should improve competitiveness and/or the environment, in accordance with NIB's mandate and eligibility criteria. Furthermore, outside the membership area, projects financed by NIB should be of mutual interest to the country of the borrower and the member countries." 

A state act in the GTA database is assessed solely in terms of the extent to which its implementation affects foreign commercial interests. On this metric, the investment support granted here is discriminatory.

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