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RCL secures financing for Celebrity Edge-class newbuilds

RCL secures financing for Celebrity Edge-class newbuilds
Royal Caribbean Cruises Ltd. entered into credit agreements to finance its first and second Edge-class ships for Celebrity Cruises, at a US dollar rate up to the equivalents of 80% of the contract price, certain non-yard costs and other costs totaling up to €652,624,540 and €697,940,000.

The newbuilds are set for delivery from STX France in fall 2018 and the first half of 2020.

Each 12-year loan will amortize semi-annually following each ship's delivery. Interest is expected to accrue at a fixed rate of 3.225%.

The US dollar-denominated term loans are guaranteed 100% by COFACE, the official export credit agency of France. 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 COFACE.

Citibank N.A., London Branch is global coordinator, Sumitomo Mitsui Banking Corp. Europe Ltd., Paris Branch is ECA agent and Citibank Europe plc, UK Branch is facility agent.

Mandated lead arrangers are Banco Bilbao Vizcaya Argentaria, Paris Branch; Banco Santander, SA, Paris Branch; Citibank NA, London Branch; HSBC France, Société Générale and Sumitomo Mitsui Banking Corp. Europe Ltd., Pars Branch.

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