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

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