RCL
ROYAL CARIBBEAN CRUISES Ltd.
123.8300
-1.29%
123.8300
-1.29%
81.5900 133.7500
52 weeks
52 weeks

Mkt Cap 26.63B

Shares Out 215.08M

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Entry into a Material Definitive

On November 13, 2015, we entered into credit agreements for the financing of the fourth and fifth Quantum-class ships for Royal Caribbean International which are scheduled for delivery in the second quarter of 2019 and fourth quarter of 2020, respectively.Each agreement makes available to Royal Caribbean Cruises Ltd. an unsecured US dollar-denominated term loan guaranteed 95% by Euler Hermes Deutschland AG (Hermes), the official export credit agency of Germany.The maximum amount of each facility is equal to the US dollar equivalent of 80% of the vessel purchase price plus 100% of the premium payable to Hermes.

Each loan, once funded, will amortize semi-annually and will mature twelve years following the delivery of the applicable ship.At our election, interest on each loan will accrue either (1) at a fixed rate of 3.45% (inclusive of the applicable margin) or (2) at a floating rate equal to LIBOR plus 0.95%.The credit agreements contain customary events of default and...


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