| Schedule of Debt Recognized At Amortized Cost |
A summary of the Group’s debt, recognized at amortized cost, as of March 31, 2026 and December 31, 2025 is outlined below:
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March 31, 2026 |
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December 31, 2025 |
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Debt (1) |
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Security (if applicable) |
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(in USD and thousands) |
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River Vessel Financing |
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€20.3 million loan(2), variable base rate plus 2.4%, due 2026 |
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Viking Kvasir |
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$ |
— |
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$ |
10,089 |
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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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35,538 |
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38,842 |
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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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6,906 |
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7,404 |
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€153.2 million loan(2), (3), 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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54,623 |
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64,832 |
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€53.6 million loan(2), (3), variable at SOFR plus CAS and 1.30%, due through 2029 |
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Viking Gymir, Viking Egdir |
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26,175 |
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29,915 |
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Ocean Ship Financing |
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$290.2 million financial liability, due 2031 |
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Viking Jupiter |
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— |
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206,702 |
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€316.6 million loan(4), fixed at 1.81%, due 2034 |
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Viking Neptune |
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273,214 |
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278,811 |
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€316.6 million loan(4), fixed at 1.87%, due 2035 |
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Viking Saturn |
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288,392 |
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294,301 |
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$401.0 million loan(4), fixed at 3.64%, due 2036 |
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Viking Vela |
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367,572 |
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367,572 |
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$430.5 million loan(4), fixed at 3.70%, due 2037 |
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Viking Vesta |
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412,570 |
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412,570 |
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¥2.3 billion financial liability, due 2040 |
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Viking Yidun |
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336,073 |
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— |
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Notes |
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$675.0 million 5.000% Senior Secured Notes 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 5.625% Senior Secured Notes due 2029 |
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Viking Venus |
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350,000 |
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350,000 |
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$500.0 million 7.000% Senior Notes due 2029 |
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500,000 |
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500,000 |
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$720.0 million 9.125% Senior Notes due 2031 |
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720,000 |
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720,000 |
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$1.7 billion 5.875% Senior Notes due 2033 |
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1,700,000 |
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1,700,000 |
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Other Loans |
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€6.2 million loan, fixed at 0.3%, due 2026 |
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718 |
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1,099 |
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20.0 million CHF loan, fixed at 0.25% - 2.0%, due 2027 |
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8,336 |
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8,410 |
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Total debt |
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$ |
5,755,117 |
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$ |
5,665,547 |
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Less: Unamortized debt fees and discounts, net of premiums |
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(159,862 |
) |
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(163,572 |
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Total debt, net of fees |
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$ |
5,595,255 |
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$ |
5,501,975 |
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Less: Current portion of long-term debt |
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(176,994 |
) |
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(374,607 |
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Long-term debt |
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$ |
5,418,261 |
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$ |
5,127,368 |
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(1) SOFR is Term Secured Overnight Financing Rate and CAS is Credit Adjustment Spread (2) USD denominated (3) Euler Hermes Aktiengesellschaft (“Hermes”) provides a guarantee equal to 95% of the loan amounts (4) SACE SpA (“SACE”) provides an insurance policy to the lenders covering 100% of the principal and interest of facility amounts
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