Norwegian Cruise Line borrows all $1.55 billion of revolving funds

By Sarah Lizee

Olympia, Wash., March 16 – Norwegian Cruise Line Holdings Ltd. borrowed all $1.55 billion under its $875 million revolving credit facility due Jan. 2, 2024 and $675 million revolver due March 4, 2021 with JPMorgan Chase Bank, NA as administrative agent, according to an 8-K filing with the Securities and Exchange Commission.

The March 12 borrowing was made as a precautionary measure in order to increase the company’s cash position and facilitate financial flexibility in light of current uncertainty in the global markets resulting from the Covid-19 outbreak, Norwegian Cruise Line said.

The proceeds are currently being held on the company’s balance sheet and may be used for working capital, general corporate or other purposes permitted by the facilities.

Norwegian Cruise Line is a Miami-based cruise company.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.