Finnvera guarantees part of the construction financing for the world’s largest cruise ship and her sister ship

Finnvera has signed a guarantee agreement for construction financing of the world’s largest and most revolutionary cruise ship, “Oasis of the Seas”, and her sister ship, “Allure of the Seas”, being built for Royal Caribbean Cruises Ltd at the Aker Yards Oy Turku Shipyard in Finland.

The guarantee holder of the Finnvera Guarantee is Skandinaviska Enskilda Banken AB (publ), London Branch. The lenders are Nordea Bank Finland Plc and Skandinaviska Enskilda Banken AB.

The total amount of the construction financing for the two vessels can at maximum be 900 million euros of which Finnvera guarantees up to 525 million euros. The amount of credit can reach at most 650 million euros per vessel, with Finnvera guaranteeing at most 325 million euros in credit per vessel.

Aside from being the largest ships ever built in the world, these two ships – the first to be delivered in autumn 2009 – are also the world’s most expensive vessels. The ships have innovative new features, such as a “Central Park” with live trees and outdoor restaurant seating. The 220 000 GRT vessels are 360 metres long and 65 metres high. With 16 passenger decks, “Oasis of the Seas” – as well as her sister ship, to be delivered a year later – can accommodate 5,400 passengers.

For more information:
Topi Vesteri, Executive Vice President, tel. +358 20 460 7238

Finnvera plc is a specialised financing company owned by the State of Finland. It provides its clients with loans, guarantees, venture capital investments and export credit guarantees. Finnvera has official Export Credit Agency (ECA) status.