Royal Caribbean draws remaining amount under two revolving facilities

By Sarah Lizee

Olympia, Wash., April 2 – Royal Caribbean Cruises Ltd. drew down all remaining commitments under its revolving credit facilities with Nordea Bank AB (publ), New York Branch and Bank of Nova Scotia as administrative agents on March 27, according to an 8-K filing with the Securities and Exchange Commission.

The draws were made in connection with the company’s desire to increase its cash position and enable financial flexibility in light of current uncertainty resulting from the Covid-19 outbreak, Royal Caribbean said.

Following the draws, there will be $1.55 million outstanding under the Nordea credit agreement and $1,925,000,000 outstanding under the BNS credit agreement.

Royal Caribbean is a Miami-based cruise vacation company.

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