Fjord1 Completes Refinancing of Debt
Fjord1 AS (“Fjord1” or the “Company”), the largest ferry and high-speed passenger boat operator in Norway, today announced that it has completed a NOK 6,5 billion debt refinancing. Proceeds will be used to repay the Company’s existing loan facilities including the outstanding bond (ticker FJORD01 and ISIN NO0010810302) and all additional outstanding interest and principal through the maturity date of November 22, 2022. In connection with the completion of the refinancing, Fjord1 expects to launch a buyback offer to its existing bondholders.
Dagfinn Neteland, Chief Executive Officer of Fjord1, said, “We are proud of the confidence our lenders have placed in Fjord1 as we seek to continue providing the safest, most reliable, and environmentally sustainable ferry operations in Norway. As a result of the support of our investors, we have successfully upgraded nearly half of our fleet to hybrid-electric vessels powered by battery technology, and this refinancing ensures we remain well positioned to continue electrifying our fleet to meet the demand for sustainable transportation. The completion of this transaction is emblematic of Fjord1’s resilience in the eyes of the institutional investors, our passengers, and the market at large.”
Pareto Securities AS and Wikborg Rein Advokatfirma AS served as financial advisor and legal advisor, respectively, to Fjord1 in connection with the refinancing.
Fjord1 is owned by Vision Ridge Partners, an alternative asset manager focused on sustainable real assets, and Havila Holding, an investment company owned by the Sævik family in Norway, which together, successfully privatized the Company in August 2021.
About Fjord1
Fjord1 aims to be the safest and most attractive provider of environmentally friendly and reliable transport for customers, clients and partners. Fjord1 is a leading player in the Norwegian ferry market, with close to 80 ferries. The company also operates passenger boat services and has interests in the catering and tourism industries. More information at https://www.fjord1.no/
To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.
View source version on businesswire.com: https://www.businesswire.com/news/home/20220425005347/en/
Contact information
Amanda Shpiner/Sara Widmann
Gasthalter & Co.
212-257-4170
About Business Wire
Business Wire(c) 2018 Business Wire, Inc., All rights reserved.
Business Wire, a Berkshire Hathaway company, is the global leader in multiplatform press release distribution.
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
Hurricane Electric Expands Global Network to The Albanian Internet Exchange24.5.2022 11:20:00 CEST | Press release
Hurricane Electric, the world’s largest IPv6-native Internet backbone announced today that it has further expanded its presence in Southeastern Europe by connecting to the Albanian Neutral Internet eXchange (ANIX). ANIX is the first neutral and not-for-profit Internet Exchange point in Albania and is hosted and managed by Namex in the carrier-grade data center of RASH, the Albanian Academic Network, in Tirana. ANIX went live in March 2018. Prior to the establishment of ANIX, traffic between Albanian endpoints had to pass through foreign countries. ISPs throughout Albania and the world come to ANIX to interconnect their networks. Hurricane Electric’s presence in ANIX will provide reduced latency and improved fault tolerance, load balancing and congestion management infrastructure. The added direct connectivity paths also increase the reach of Hurricane Electric’s next-generation (IPv6) Internet infrastructure and services. Additionally, ANIX members can now exchange IP traffic, or “peer
Robeco Leverages Goldman Sachs Pre-Trade Analytics via FlexTRADER EMS24.5.2022 10:30:00 CEST | Press release
FlexTrade Systems (@FlexTrade), a global leader in multi-asset execution and order management systems, today announced Robeco are live and in production using Goldman Sachs pre-trade cluster analytics and market impact estimates within FlexTRADER EMS. The move is designed to optimize the support for Robeco's best execution obligations. The Goldman Sachs Equity Clusters data set classifies each stock according to its individual market microstructure characteristics, using multiple factors derived directly from tick-level data, and organized via a semi-supervised learning approach. As a result, each stock can belong to one of 13 differently labelled clusters that provide a concise depiction of stocks’ intraday trading behavior. In conjunction with the clusters dataset, Goldman Sachs’ quantitative execution research team has revamped the modelling and calibration of their market impact estimates, applying an impact propagation framework that is cluster-aware, and offers significantly high
Akur8 Announces Silver Sponsorship of InsureTech Connect Asia 202224.5.2022 09:30:00 CEST | Press release
Akur8, the next generation insurance pricing solution powered by transparent AI, is excited to announce its Silver sponsorship of InsureTech Connect Asia (ITC) 2022, the region’s largest gathering of insurance leaders and innovators, taking place from June 7 to June 9 in Singapore. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20220524005001/en/ Specifically developed for insurers, Akur8’s solution enhances their pricing processes by automating the rate-making process, using Transparent Artificial Intelligence proprietary technology. Core benefits for insurers include increased predictive performance and speed-to-accuracy for higher market reactivity and immediate business impact, while maintaining full transparency and control on the models created. 30,000 industry experts and more than 100 C-level speakers will gather at the ITC Asia event to discuss the latest trends and innovations in the insurance and insurtech ecosystem
As Europe Becomes World’s Most Attractive Region for Digital Health, HIMSS Convenes Healthcare Community24.5.2022 09:15:00 CEST | Press release
HIMSS (Healthcare Information and Management Systems Society) is bringing together healthcare and IT leaders who are navigating an extraordinary opportunity to advance the digital transformation of Europe’s health systems. Major changes prompted by the COVID-19 pandemic — including billions of euros invested in healthcare modernization, national regulatory initiatives and the proposed EU legislation for the creation of the European Health Data Space — are making the region one of the world’s most attractive and dynamic markets for digital health. “This year’s epicentre of digital health is the 2022 HIMSS European Health Conference & Exhibition, 14-16 June in Helsinki, where hospitals, governments and innovators will look into delivering the next generation of healthcare services, now,” said Armin Scheuer, VP and Executive Director EMEA at HIMSS. “HIMSS22 Europe features sessions from more than 120 health experts and the best-ever exhibition of health tech solutions to tackle the indust
Temenos Launches ESG Investing-as-a-Service for Banks and Wealth Managers24.5.2022 09:09:00 CEST | Press release
Temenos (SIX: TEMN) today launched ESG Investing-as-a-service, helping banks and wealth managers meet the growing demand for sustainable investing. The offering was unveiled to 1,500 banking and fintech executives at Temenos Community Forum in London. Running on Temenos Banking Cloud, on any cloud or on-premise, the service accelerates time-to-market for ESG compliant products and reporting while reducing the cost of development. The solution combines Temenos front office, market data management and digital capabilities, including powerful filtering, scoring and modeling techniques, with external data feeds from multiple providers to deliver a complete end-to-end service. ESG investing, also called sustainable, socially responsible, or impact investing, is a way of investing in companies based on their commitment to one or more ESG factors. It presents a huge opportunity for banks and wealth management firms to drive growth and differentiate to meet their clients’ increasingly sophisti