Financing ·
NCLH secures $5B in credit facilities to finance two new cruise ships
NCLHNorwegian Cruise Line Holdings Ltd.
Norwegian Cruise Line Holdings Ltd.'s subsidiary, NCL Corporation Ltd., entered into separate credit facility agreements for approximately $2.5 billion each, totaling roughly $5 billion, to fund the purchase of two new cruise vessels. The loans are secured by first-lien ship mortgages and insured by SACE, the Italian state export credit agency. Interest is set at six-month Term SOFR plus a 0.90% margin, with repayment in twenty-four semi-annual installments beginning six months after each vessel's delivery. Vessel 1 is scheduled for delivery in 2034 and Vessel 2 in 2036. The company operates the cruise ship industry.