Further to the successful renegotiation and refinance of the outstanding loan's balance through the common Bond Loan, the drawdown of ? 375 million has been concluded today.
In this Bond Loan 10 banks participate while the Book Runner is the National Bank of Greece. The duration of the facility will be 12 years.
This renegotiation has been achieved due to the continuing improvement of Minoan Lines' financial performance, which assists to the improvement of the financial covenants of the above-mentioned Bond Loan. For the current fiscal year we estimate benefit euro 3 million resulting to the respective progress of the company's net profit.