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RCL secures financing for Celebrity Edge-class newbuildsRCL secures financing for Celebrity Edge-class newbuilds

Royal Caribbean Cruises Ltd. entered into credit agreements to finance its first and second Edge-class ships for Celebrity Cruises, at a US dollar rate up to the equivalents of 80% of the contract price, certain non-yard costs and other costs totaling up to €652,624,540 and €697,940,000.

Anne Kalosh, Editor, Seatrade Cruise News & Senior Associate Editor, Seatrade Cruise Review

June 28, 2016

1 Min Read
Credit: Seatrade Cruise News

The newbuilds are set for delivery from STX France in fall 2018 and the first half of 2020.

Each 12-year loan will amortize semi-annually following each ship's delivery. Interest is expected to accrue at a fixed rate of 3.225%.

The US dollar-denominated term loans are guaranteed 100% by COFACE, the official export credit agency of France. The maximum amount of each facility is equal to the US dollar equivalent of 80% of the vessel purchase price plus 100% of the premium payable to COFACE.

Citibank N.A., London Branch is global coordinator, Sumitomo Mitsui Banking Corp. Europe Ltd., Paris Branch is ECA agent and Citibank Europe plc, UK Branch is facility agent.

Mandated lead arrangers are Banco Bilbao Vizcaya Argentaria, Paris Branch; Banco Santander, SA, Paris Branch; Citibank NA, London Branch; HSBC France, Société Générale and Sumitomo Mitsui Banking Corp. Europe Ltd., Pars Branch.

About the Author

Anne Kalosh

Editor, Seatrade Cruise News & Senior Associate Editor, Seatrade Cruise Review

Anne Kalosh covers global stories, reporting both breaking and in-depth news on cruising's significant people, places, ships and trends. A sought-after expert on cruising, she has moderated conferences around the world, including the high-profile State of the Industry panel at Seatrade Cruise Global. She created and led the acclaimed itinerary-planning case study for Seatrade's cruise master classes held at Cambridge and Oxford universities. She has been the cruise columnist for AFAR.com, and her freelance stories have appeared in a wide range of publications, from The New York Times to The Miami Herald.

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