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Royal Caribbean arranges financing for Quantum 4 and 5

Royal Caribbean arranges financing for Quantum 4 and 5
Royal Caribbean Cruises Ltd. has arranged US-dollar denominated 12-year financing for its fourth and fifth Quantum-class newbuilds with KfW IPEX-Bank. The unsecured loans are guaranteed up to 95% by Euler Hermes, Germany's export credit agency.

Each facility is for up to 80% of each ship's contract price, which may be adjusted to reflect change orders outlined in the construction contract with Meyer Werft, but is not to exceed the dollar equivalent of €931m.

The loans will amortize semi-annually and mature 12 years following the delivery of each ship. At Royal Caribbean's election, interest will accure at a fixed rate of 3.45% or at a floating rate equal to LIBOR plus 0.95%. 

The Quantum vessels are due for hand-over in the second quarter of 2019 and the fourth quarter of 2020.

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