Dagfinn Neteland, Chief Executive Officer of Fjord1, said, “We are proud of the confidence our lenders have placed in Fjord1. We seek to continue providing the safest, most reliable, and environmentally sustainable ferry operations in Norway. As a result of the support of our investors, we have successfully upgraded nearly half of our fleet to hybrid-electric vessels powered by battery technology.This refinancing ensures we remain well positioned to continue electrifying our fleet to meet the demand for sustainable transportation. The completion of this transaction is emblematic of Fjord1’s resilience in the eyes of the institutional investors, our passengers, and the market at large.”

Pareto Securities AS and Wikborg Rein Advokatfirma AS served, as financial advisor and legal advisor, respectively, to Fjord1 in connection with the refinancing.

Fjord1 is owned by Vision Ridge Partners, an alternative asset manager focused on sustainable real assets, and Havila Holding, an investment company owned by the Sævik family in Norway, which together, successfully privatized the Company in August 2021.