Changes in the debt obligations of AS Tallinna Sadam
Today, AS Tallinna Sadam signed an unsecured loan agreement with AS SEB Pank in the amount of EUR 10 million and a maturity of 10 years. The interest rate of the loan is 6-month Euribor plus interest margin, and the bank has an option to adjust the interest rate after 5 years. The loan was drawn in full on 25.10.2019 and the final maturity date is 25.10.2029. The funding will be used for investments in the Old City Harbour infrastructure, including the installation of auto-mooring system and on-shore power supply equipment.
Tallinna Sadam is one of the largest cargo- and passenger port complexes in the Baltic Sea region, which in 2018 serviced 10.6 million passengers and 20.6 million tons of cargo. In addition to passenger and freight services, Tallinna Sadam group also operates in shipping business via its subsidiaries – OÜ TS Laevad provides ferry services between the Estonian mainland and the largest islands, and OÜ TS Shipping charters its multifunctional vessel m/v Botnica for icebreaking and construction services in Estonia and offshore projects abroad. Tallinna Sadam group is also a shareholder in an associate AS Green Marine, which provides waste management services. Tallinna Sadam group's sales in 2018 totaled EUR 130.6 million, adjusted EBITDA EUR 74.4 million and net profit EUR 24.4 million.
Head of Investor Relations
AS Tallinna Sadam