Nordea Launches $312M Refinancing Facility for TFDS

Norwegian ferry operator Troms Fylkes Dampskibsselskap ASA (TFDS, owner of Hurtigruten) mandated on December 23, 2004 Nordea to lead arrange a NOK 1,950 million (US$312 million) credit facility for the purpose of refinancing a substantial portion of the company’s bank debt. The refinancing concludes a significant restructuring that the company successfully has concluded throughout 2004 which includes the issuance of equity, the issuance of convertible debt, the sale of its offshore activities, the sale of its share in Nor-Cargo and entering into a new 8-year contract with The Ministry of Transport and Communication for central government procurement of sea transport services worth approximately NOK 110 million each year.

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