Royal Caribbean Cruises Ltd 8-K, filed Dec 22, 2023
Royal Caribbean Cruises Ltd (RCL)
About this 8-K
Royal Caribbean Cruises Ltd filed this 8-K on December 22, 2023.
Items reported
- Item 1.01: Entered into a material agreement
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| Item 1.01 | Entry into a Material Definitive Agreement |
On December 22, 2023, we entered into a credit agreement for the financing of Celebrity Xcel, the fifth Edge-class ship for Celebrity Cruises which is scheduled for delivery in the fourth quarter of 2025. The credit agreement makes available to Royal Caribbean Cruises Ltd., upon acceptance and delivery of the ship, an US dollar-denominated term loan guaranteed 100% by BpiFrance Assurance Export, the official export credit agency of France. The loan, once assigned to us upon delivery of the ship, will amortize semi-annually and will mature twelve years thereafter. Interest on the loan is expected to accrue at a floating rate of Term SOFR plus 1.45%. The credit agreement contains customary events of default and prepayment events for, among other things, non-payment, breach of covenants, default on certain other indebtedness, certain large judgments and a change of control of the Company.
Certain of the lenders participating in the facility, and affiliates of those parties, provide banking, investment banking and other financial services to us from time to time for which they have received, and will in the future receive, customary fees.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| ROYAL CARIBBEAN CRUISES LTD. | |||
| Date: | December 22, 2023 | By: | /s/ Naftali Holtz |
| Name: | Naftali Holtz | ||
| Title: | Chief Financial Officer | ||