Norway's Fjord Line has clinched a DKK 400m ($61.18m) loan to fund a bond buyback.
The new facility was entered into with an unnamed single lender, it said.
The aim is to refinance its NOK 300m ($35.56m) five-year senior unsecured bonds maturing in February 2018. They carry interest of 8.75%.
Fjord Line will buy up to NOK 178.5m of the issue, of which it already owns NOK 121.5m.
It will pay a fixed price of 103.5% of par value.
The company will also settle accrued but unpaid interest.
The offer closes on 4 July and no other offer will be made before maturity.
Norne Securities is acting as sole manager for the buyback.
