Norwegian Cruise Line plans new $750 million revolving facility

By Sara Rosenberg

New York, Oct. 26 - Norwegian Cruise Line has received commitments for a new $750 million senior secured revolving credit facility, according to a news release.

Proceeds from the revolver will be used to help refinance an existing senior secured credit facility and to discharge existing 10 5/8% senior notes.

Chatter is that it is mostly existing lenders rolling over into this new deal.

Other funds for the refinancing will come from a proposed $450 million senior secured notes offering.

Consummation of the notes is expected to occur concurrently with the initial funding of the new revolver.

Norwegian Cruise Line is a Miami-based cruise ship operator.

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