Oslo-listed Color Group AS concluded a USD 141 million 5-year financing agreement for its cruise ferry M/S Color Magic.
The new revolving credit facility has been secured with a syndicate of banks including Nordea, Danske Bank, ABN Amro, SEB, Sparebanken Møre, and DnB. The re-payment profile is 10 years.
Color Group said that the first drawn tranche which re-finances the existing loan facility due in September 2019 will be approx. NOK 500 mill (USD 58 million).
Color Magic was built at Aker Finnyards Rauma Shipyard, Finland in 2007 and is a sister vessel of MS Color Fantasy, delivered to Color Line in 2004.
Color Line’s Color Fantasy and Color Magic provide a daily link between Kiel and Oslo.