Oceania Cruises to hold bank meeting Wednesday for $415 million credit facility

By Paul A. Harris

St. Louis, April 9 - Oceania Cruises Inc. will hold a bank meeting on Wednesday for its $415 million credit facility, according to an informed source.

The upper-premium cruise line plans to put in place a $40 million revolving credit facility, a $300 million first-lien term loan and a $75 million second-lien term loan.

Pricing and ratings remain to be determined.

Lehman Brothers and UBS are leading the deal, the proceeds from which will be used to help fund the buyout of the Miami-based company by Apollo Management LP.

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