NCLH arranges $260m term loans secured by Norwegian Jewel

A Norwegian Cruise Line Holdings subsidiary entered into the Norwegian Jewel Credit Agreement, providing term loans totalling $260m. These will be used for general corporate purposes, including prepayment of debt for Norwegian Epic.

The loans are secured by Norwegian Jewel.

2022 maturity

The maturity date is May 15, 2022. The loans will bear interest at an annual rate of LIBOR plus a margin of 0.8%. They are to be repaid in semiannual amounts equal to $37.44m, with the balance payable on the maturity date.

The NCLH subsidiary may voluntarily repay the loans drawn under this Norwegian Jewel Credit Agreement, in whole or in part, at any time, subject to breakage fees.

Bank of America, NA is administrative agent and collateral agent.

Posted 17 May 2019

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Anne Kalosh

Editor, Seatrade Cruise News & Senior Associate Editor Seatrade Cruise Review