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CRUISE Celebrity Equinox, Norwegian Bliss.jpg
RCL's Celebrity Equinox, left, and NCLH's Norwegian Bliss are among the ships whose loans were amended

NCLH, RCL boost liquidity with debt holidays for German-built ships

Norwegian Cruise Line Holdings and Royal Caribbean Cruises Ltd. secured additional liquidity by taking advantage of debt holidays for certain German-built ships.

The 12-month debt holidays are offered by Hermes, Germany's official export credit agency, to provide relief for borrowers during the current COVID-19 pandemic.

NCLH additional $386m liquidity

For the six NCLH ships, this means $386m additional liquidity for the company through April 2021. The ships are Norwegian Bliss, Norwegian Breakaway, Norwegian Encore, Norwegian Escape, Norwegian Getaway and Norwegian Joy

RCL additional $250m liquidity

As anticipated, RCL took advantage of the chance to defer debt payments for additional ships which, together, will generate approximately $250m of incremental liquidity through April 2021.

The five ships are Quantum of the Seas, Celebrity Eclipse, Celebrity Equinox, Celebrity Solstice and Celebrity Silhouette.

On top of earlier extra $200m 

This is on top of the $200m of incremental liquidity previously disclosed in connection with RCL's Hermes-backed facilities for three ships.

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