Hurtigruten Group has completed a €430 million refinancing of its debt facilities.

The new €330 million facilities replace its existing debt and cut annual financing costs significantly, paired with a €100 million equity issue.

As shared in a statement, the move is expected to give the company a long-term financing platform with lower costs and greater financial flexibility

“We are very pleased to have secured long-term financing with the four leading Nordic banks. The transaction significantly reduces financing costs and gives us a solid foundation going forward,” said Hedda Felin, CEO of Hurtigruten Group.

“This refinancing marks an important milestone for Hurtigruten, executing our plan to reduce leverage and create flexibility for further growth. With a strong balance sheet supported by capable partners, we are well positioned to deliver on our strategy, invest in our product offering, and continue providing unique experiences along the Norwegian coast and in Svalbard.”

The deal was arranged with Nordic banks led by DNB, alongside Danske Bank, Nordea and SEB.