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News
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07.11.2008
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Lindaliini AS has bought a new high-speed catamaran with 400 passenger seats. The name of the vessel will be Karolin and she will operate between Tallinn and Helsinki in 2009 together with her sister vessel Merilin. In addition to Swedbank, the Credit and Export Guarantee Fund KredEx assisted in financing the transaction by subordinated liability. KredEx has been offering subordinated liabilities (capital loans) since 2006. Those loans are meant for fast developing, successful enterprises which have been operating for some time and are in need of additional capital for expanding their activities, but do not meet the requirements of the criteria of a bank loan with necessary amount. Similar to an owner of the enterprise, KredEx will lend borrowed capital to an entrepreneur without requiring any guarantees. The enterprise will pay an interest to KredEx for the capital use and will repay the loan later as previously agreed. As the obligation to repay a capital loan, in general, occurs in the end of a loan period and the loan is subordinated to other obligations of the enterprise, a capital loan will, in the eyes of the bank, potentially raise the enterprise’s equity capital, enabling the enterprise to take additional loan and develop faster. The loan amount is EEK 1-16 million, minimum equity capital amount is EEK 1 million and minimum equity capital share in the balance should be at least 10%.
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