Havila signs with lenders for refinancing of its cruise fleet

   September 16, 2022 ,   Cruise Industry

Havila Kystruten (parent company of Havila Voyages) signed term sheets with lenders for the cruise fleet's refinancing and set dates for the start of operations for two boats - Havila Pollux and Havila Polaris.

The financing totals USD-EUR 370 million (GBP 325M) and covers payment to Turkey's Tersan Shipyard (on the delivery of both vessels) as well as redemption of existing debt related to fleet's all four vessels.

Havila Kystruten's CEO Bent Martini said it was with great relief to have the refinancing of their ships in place. It had been a demanding period with a lot of uncertainty for the company, employees, and not least their guests. He added they were happy to have found a solution.

Redemption of debts to GTLK (Russia's largest leasing company) is due to take place by a further agreement with the new lenders in compliance with international sanctions regulations and in accordance with permission obtained from the Norwegian maritime authorities.

New plans for the delivery of Pollux and Polaris from Tersan mean that the scheduled start for Polaris is set at the latest on December 29, 2022, and for Pollux at the latest on March 22, 2023.

According to Martini, delivery challenges for critical components on the next two Norwegian coastal cruiseferries and thus some further delays, were very regrettable, especially for everyone who had booked a trip with them and not least for the coastal population.

“It is also very important for us to get the next two ships into operation, and we are very much looking forward to have a full operation with four ships along the Norwegian coast soon.”

Havila Pollux ferry

The company will contact passengers affected by the changes to offer similar voyages with the fleetmates Havila Castor and Havila Capella, alternatively sailings with the newest ships later.