| Schedule of Loans and Financial Liabilities |
Loans and financial liabilities
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June 30, 2025 |
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December 31, 2024 |
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Loans and Financial Liabilities |
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Vessels and Ships Financed and Mortgaged |
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(in USD and thousands) |
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€54.2 million loan, variable base rate plus 2.4%, due 2025 |
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Viking Baldur, Viking Magni |
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$ |
14,629 |
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$ |
17,096 |
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€20.3 million loan, variable base rate plus 2.4%, due 2026 |
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Viking Kvasir |
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11,237 |
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12,343 |
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€225.8 million loan, fixed at 4.73% or variable at SOFR plus CAS and 2.0%, due through 2027 |
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Viking Herja, Viking Hild, Viking Sigrun, Viking Einar |
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17,210 |
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23,087 |
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$53.5 million loan, fixed at 5.12%, due 2025 |
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Viking Idi refinancing, Viking Astrild, Viking Beyla |
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— |
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14,384 |
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$40.0 million loan, fixed at 5.43%, due 2027 |
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Viking Hemming, Viking Osfrid and Viking Torgil refinancing |
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12,500 |
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15,000 |
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$102.0 million loan, fixed at 5.22% - 5.26%, due 2028 |
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Viking Vali, Viking Tir, Viking Ullur, Viking Sigyn |
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45,324 |
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51,113 |
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$15.1 million loan, variable base rate plus 2.35%, due 2029 |
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Viking Helgrim |
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8,375 |
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9,307 |
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€153.2 million loan, variable at SOFR plus CAS and 1.30%, due through 2029 |
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Viking Hervor, Viking Gersemi, Viking Kari, Viking Radgrid, Viking Skaga, Viking Fjorgyn |
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75,042 |
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85,251 |
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€53.6 million loan, variable at SOFR plus CAS and 1.30%, due through 2029 |
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Viking Gymir, Viking Egdir |
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33,655 |
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37,394 |
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$291.2 million financial liability, due 2030 |
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Viking Orion |
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202,255 |
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209,608 |
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$290.2 million financial liability, due 2031 |
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Viking Jupiter |
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214,095 |
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221,153 |
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$255.7 million financial liability, variable at SOFR plus CAS and 3.0%, due 2033 |
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Viking Octantis |
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210,966 |
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217,359 |
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$299.5 million financial liability, due 2034 |
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Viking Mars |
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265,711 |
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271,709 |
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€316.6 million loan, fixed at 1.81%, due 2034 |
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Viking Neptune |
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294,369 |
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274,091 |
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€316.6 million loan, fixed at 1.87%, due 2035 |
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Viking Saturn |
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309,862 |
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287,795 |
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$401.0 million loan, fixed at 3.64%, due 2036 |
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Viking Vela |
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384,280 |
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400,988 |
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$430.5 million loan, fixed at 3.70%, due 2037 |
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Viking Vesta |
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430,507 |
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— |
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€6.2 million loan, fixed at 0.3%, due 2026 |
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1,831 |
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2,265 |
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20.0 million CHF loan, fixed at 0.25% - 2.0%, due 2027 |
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10,466 |
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11,050 |
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Gross bank loans and financial liabilities |
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$ |
2,542,314 |
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$ |
2,160,993 |
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Less: Unamortized loan and financial liability fees |
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(149,513 |
) |
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(117,220 |
) |
Total bank loans and financial liabilities |
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$ |
2,392,801 |
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$ |
2,043,773 |
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Less: Short-term portion of bank loans and financial liabilities |
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(249,846 |
) |
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(220,116 |
) |
Long-term portion of bank loans and financial liabilities |
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$ |
2,142,955 |
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$ |
1,823,657 |
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| Summary of Secured Notes |
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June 30, 2025 |
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December 31, 2024 |
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Notes |
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Collateral |
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(in USD and thousands) |
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$675.0 million Secured Notes, fixed 5.000% due 2028 |
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Viking Star, Viking Sea and Viking Sky |
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$ |
675,000 |
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$ |
675,000 |
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$350.0 million Secured Notes, fixed 5.625% due 2029 |
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Viking Venus |
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350,000 |
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350,000 |
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Gross Secured Notes |
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$ |
1,025,000 |
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$ |
1,025,000 |
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Less: Secured Notes fees and discounts |
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(6,538 |
) |
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(7,499 |
) |
Total Secured Notes |
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$ |
1,018,462 |
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$ |
1,017,501 |
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| Summary of Unsecured Notes |
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June 30, 2025 |
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December 31, 2024 |
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Notes |
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Purpose |
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(in USD and thousands) |
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$250.0 million VCL Notes, fixed 6.250% due 2025 |
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General corporate purposes, including without limitation working capital, capital expenditures, repayment of outstanding indebtedness and the acquisition of river vessels or ocean ships |
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$ |
— |
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$ |
250,000 |
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$825.0 million VCL Notes, fixed 5.875% due 2027 |
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To fund the tender offer and redemption of the 2022 VCL Notes and general corporate purposes |
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825,000 |
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825,000 |
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$500.0 million VCL Notes, fixed 7.000% due 2029 |
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General corporate purposes |
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500,000 |
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500,000 |
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$720.0 million VCL Notes, fixed 9.125% due 2031 |
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To fund the redemption of the 13.000% Senior Secured Notes due 2025 |
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720,000 |
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720,000 |
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Gross Unsecured Notes |
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$ |
2,045,000 |
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$ |
2,295,000 |
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Less: Unsecured Notes fees and discounts,
net of premiums |
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(17,977 |
) |
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(20,349 |
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Total Unsecured Notes |
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$ |
2,027,023 |
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$ |
2,274,651 |
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Less: Short-term portion of Unsecured Notes |
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— |
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(249,650 |
) |
Long-term portion of Unsecured Notes |
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$ |
2,027,023 |
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$ |
2,025,001 |
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