Havila Kystruten refinances secured bond, adds NOK 200 million revolver

By Mary-Katherine Stinson

Lexington, Ky., April 18 – Havila Kystruten AS gave an update on its refinancing transactions for the fourth quarter.

The company completed the redemption of its series B secured bond loan with HPS Investment Partners, originally amounting to €50 million, which was funded by €56 million in loans from Havila Holding AS.

The company also paid accrued interest and related redemption costs.

The Havila loan stretches the company’s first loan maturity out to July 26, 2028, addressing the refinancing needs that were due in October 2024.

The shareholder loan can be repaid at any time without redemption costs.

In addition, Havila Kystruten has established a revolving credit facility of NOK 200 million from Havila Holding, providing the company with increased financial flexibility to manage seasonal liquidity fluctuations.

The new loan’s term ends on Jan. 26, 2027, but can be drawn and reduced as needed with applicable interest accruing.

The company still has a remaining secured bond, series A, totaling €255 million.

Havila Kystruten is a Fosnavag, Norway-based shipping company.

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