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Tallink stays afloat through debt restructuring

Dec 17, 2009
From wire reports

SAFETY IN PORT: A lifeline thrown by creditors buys the ferry operator time to wait out the stormy economic weather.
TALLINN - Estonian shipping company Tallink Grupp has reached an agreement with international lenders to reduce the amount of repayment of the main part of its loans over the next two years, reports news agency LETA. The company will end up paying a higher interest rate on the balance of the loans. “The repayment restructuring significantly improves Tallink’s liquidity position and gives more flexibility for Tallink to maintain sufficient working capital for meeting present and fu ...

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