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NCLH secures additional $675m liquidity amid coronavirus uncertainty

Given the continued uncertainty surrounding coronavirus, Norwegian Cruise Line Holdings on Thursday took the proactive measure of securing $675m in additional liquidity.

Secured by Norwegian Epic

This is in the form of revolving loans secured by Norwegian Epic. Funds drawn would bear interest at an annual rate of LIBOR plus a margin of 0.8%. According to a filing, this Norwegian Epic Credit Agreement will be used for general corporate purposes and the maturity date is March 4, 2021.

JPMorgan Chase Bank is administrative agent and collateral agent.

No borrowings drawn to date

As of March 9, no borrowings were drawn under this agreement nor the company's other $875m senior secured revolving credit facility, resulting in availability under these revolving credit agreements of $1.55bn.

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