Norway's Hurtigruten sails through €660m loan

Hurtigruten, the Norwegian cruise operator owned by TDR Capital, has agreed on final pricing on a €660m leveraged loan facility, raising enough debt to repay all its high yield bonds.

  • By Michael Turner
  • 08 Feb 2018

Hurtigruten, rated B2/B-/B-, has raised a €575m seven year covenant-lite term loan ‘B’ at par. It pays 400bp over Euribor with a 0% Euribor floor.

The borrower simultaneously raised a €85m

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Bookrunners of European Leveraged Loans

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 BNP Paribas 14,336.43 69 7.12%
2 Credit Agricole CIB 12,127.33 53 6.02%
3 Deutsche Bank 11,901.17 45 5.91%
4 Goldman Sachs 11,327.05 46 5.63%
5 UniCredit 10,733.06 63 5.33%

Bookrunners of European HY Bonds

Rank Lead Manager Amount €m No of issues Share %
  • Last updated
  • Today
1 BNP Paribas 4,034.08 48 7.08%
2 Deutsche Bank 3,636.44 36 6.39%
3 Goldman Sachs 3,623.05 30 6.36%
4 JPMorgan 3,537.06 38 6.21%
5 Credit Suisse 3,303.94 34 5.80%

Bookrunners of Dollar Denominated HY Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 17,194.51 135 9.92%
2 Credit Suisse 12,843.21 88 7.41%
3 Goldman Sachs 12,130.01 89 7.00%
4 Citi 12,023.66 101 6.94%
5 Bank of America Merrill Lynch 11,966.50 108 6.91%