Viking Line: State Guarantees approved

Viking Line Abp               INSIDE INFORMATION           15.10.2020, 2.15 PM

Agreement with financiers and Finnish government on liquidity loans of 43 million euros

The Finnish Government today approved the State of Finland’s guarantees on Viking Line´s liquidity loans up to 38.7 million euros. Using the liquidity loans, Viking Line aims to further secure its cash position and ensure business continuity during the exceptional situation caused by the coronavirus crisis. In addition to the Finnish State guarantees, commercial banks are guaranteeing 4.3 million euros.

The arrangement is compliant with EU State aid regulations and the European Commission accepted the general terms and conditions of the shipping company’s guarantees on May 28, 2020

Viking Line undertakes not to pay any dividends or disburse any other funds until the obligations in connection with the guarantees and loans have been discharged in full.

Viking Line plans to draw down some of the loans during the last quarter of 2020 and some of the loans during 2021.

Viking Line Abp

Jan Hanses
President and CEO
 

Jan Hanses
President and CEO
jan.hanses@vikingline.com
+358-(0)18-270 00