Pride of America, Norwegian Epic, Norwegian Jewel
The company was able to amend its credit facilities secured by Pride of America, Norwegian Epic and Norwegian Jewel to extend maturities or defer amortization.
The amendments for the Pride of America and Norwegian Epic facilities provide $905m of incremental liquidity through May 2021. Subject to the company consummating a debt or equity financing resulting in at least $1bn of aggregate gross proceeds before June 30, the incremental liquidity will increase by approximately $75m in connection with the Norwegian Jewel facility. Plus, the maturity of the Norwegian Epic facility will be further extended to March 2022.
Lenders
The Pride of America facility is with Nordea Bank, New York Branch; Mizuho Bank; MUFG Bank and Skandinaviska Enskilda Banken. Norwegian Epic's facility is with JPMorgan Chase Bank, N.A; Mizuho Bank, Citibank, N.A.; Barclays Bank PLC, MUFG Bank, UBS AG, Stamford Branch and Citizens Bank, N.A. And the lenders for Norwegian Jewel are Bank of America, N.A.; Branch Banking & Trust Company, Fifth Third Bank and Mizuho Bank.
On top of earlier extra $386m
This incremental liquidity is in addition to the previously disclosed $386m related to a 12-month debt holiday for certain other export-credit-backed facilities from Hermes, Germany's official export credit agency.
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