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Royal Caribbean extends $1.1bn revolving credit facility

Royal Caribbean extends $1.1bn revolving credit facility
Royal Caribbean Cruises Ltd. entered into an agreement to extend its $1.1bn unsecured revolving credit facility until June 2020.

Under the amended facility, advances currently bear interest at LIBOR plus a margin of 1.5% and the cruise operator is subject to a facility fee currently equal to 0.25% per annum of the total commitments. 

Under the amended facility, Royal Caribbean the ability to increase the capacity of the facility by an additional $300m from time to time subject to the receipt of additional or increased lender commitments.

According to a filing, the amended facility's terms are substantially similar to those that existed prior to the amendment.