Finnvera to guarantee financing for new vessel orders placed at Meyer Turku Oy

Finnvera will take part in the pre-delivery financing of the cruise ships ordered by TUI Cruises GmbH from the Turku shipyard. The ships will be delivered in 2015-2017. Finnvera will guarantee between 50 and 80 per cent of the pre-delivery financing granted to the shipyard. With the new orders, Finnvera's maximum exposure for Meyer Turku Oy will reach about EUR 300 million.

Finnvera will also guarantee 95 per cent of the post-delivery buyer credits of the ships ordered by TUI Cruises GmbH. The credit period is 12 years. With the two new ships and the two ships ordered already earlier, Finnvera's exposure for TUI Cruises GmbH will reach a maximum of about EUR 1.3 billion. Finnvera's subsidiary Finnish Export Credit Ltd will provide the financing for the buyer credits arranged by commercial banks.

Further information:

Topi Vesteri, Executive Vice President, tel. +358 400 702 002
Pauli Heikkilä, CEO, tel.  +358 29 460 2400