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NCLH amends export-credit backed loans to defer $680m in payments

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Norwegian Cruise Line Holdings amended a number of export-credit backed loan facilities to defer amortization payments totaling approximately $680m through March 2022.

Some of the amendments also include changes in respect to covenants.

19 ships

These amended agreements are related to Regent Seven Seas Cruises' Seven Seas Explorer and Seven Seas Splendor and a third Explorer-class newbuild, Oceania Cruises' Riviera and Marina and two newbuilds, the six Project Leonardo newbuilds for Norwegian Cruise Line plus Norwegian Bliss, Norwegian Encore, Norwegian Breakaway, Norwegian Getaway, Norwegian Escape and Norwegian Joy.

The lenders include Crédit Agricole Corporate and Investment Bank, Société Générale, HSBC Bank, KfW IPEX-Bank, BNP Paribas Fortis, Cassa Depositi e Prestiti, Banco Santander, Nordea Bank, Commerzbank Aktiengesellschaft, Commerzbank AG, New York Branch and DNB Bank.

The export-credit agencies include Italy's SACE and Germany's Hermes.