London, 20 August 2026 – Reference is made to the summons for a written resolution dated 29 July 2026 (the "Summons") issued to bondholders of HX Hold Co Ltd (the "Company") in respect of its 7.00% senior secured EUR 257,575,758 bonds 2025/2030 (ISIN: NO0010874548) and the proposed funding transaction described therein (the "Proposed Funding Transaction").
The Company is pleased to announce that it has successfully entered into the documentation for the Proposed Funding Transaction, with binding agreements becoming effective on 19 August 2026.
The transaction will raise approximately EUR 19.1 million through the issuance of the new super-senior bonds and EUR 2.9 million through the issuance of new junior bonds. The settlement in respect of the SSSNs and the Tap Junior SSNs is expected to occur on or about 21 August 2026 and the Company will announce that separately.
The continued support and confidence of the Company’s investors and partners has been instrumental in enabling the Company to complete the Proposed Funding Transaction and secure a solid foundation for future growth.
The Proposed Funding Transaction provides the Company with a stable financial platform from which to resume its growth trajectory. The Company has now substantially overcome the operational headwinds experienced in 2025 and early 2026 following the compressed migration from Hurtigruten's legacy booking system to an independent platform, and meaningful progress is being made towards profitability.
As detailed in the Company’s announcement on 12 August 2026, booking momentum continues to accelerate and the Company is well positioned to convert this bookings momentum into improved cash flow and a path to positive EBITDA.
Further Information
Full details of the Proposed Funding Transaction, including key terms of the super-senior bonds, are set out in the Term Sheet annexed to the Summons.