News
27 November 2020
NIB and Tallink Silja Oy agree €100m COVID response loan
In:
Social infrastructure
Region:
Europe
The Nordic Investment Bank and Finnish shipping company Tallink Silja Oy - a subsidiary of the Estonian AS Tallink Grupp - have agreed a four-year loan of €100 million to support the company amid the coronavirus pandemic.
Finland has provided a state guarantee of up to €90 million for the loan to safeguard the security of supply and maintain critically important freight traffic.
The travel restrictions and border closures that have been imposed in light of the coronavirus outbreak had severe negative effects on Tallink’s activities during 2020. As a result, the company’s passenger numbers and revenues have reduced significantly. The loan aims to strengthen the company’s liquidity position in these deteriorated market conditions.
