Finnvera to grant a credit for Viking Line’s ship order
Finnvera’s subsidiary, Finnish Export Credit Ltd, will grant a post-delivery credit for the new ship ordered by Viking Line. The credit sum will be about EUR 180 million, or approximately 70 per cent of the value of the order.
The credit is granted in accordance with the OECD terms for export credits, i.e. the repayment period is 12 years and the credit sum is at most 80 per cent of the contract value. Finnvera guarantees 50 per cent of the credit granted by its subsidiary.
The State of Finland will provide refinancing for the credit granted by Finnish Export Credit. The refinancing is allocated by virtue of the budgetary item concerning credits granted by Finnish Export Credit for domestic ship deliveries, included in the 2010 Supplementary Budget.
Topi Vesteri, Executive Vice President, tel. +358 20 460 7238