Summary
Royal Caribbean Cruises Ltd. (RCL) announced on March 4, 2020, that it has increased its borrowing capacity under two of its revolving credit facilities. The company exercised the accordion feature on its Nordea Credit Agreement, adding $400 million in commitments and raising the total facility to $1.55 billion. Additionally, RCL increased its BNS Credit Agreement by $200 million, bringing that facility's total to $1.925 billion. These actions enhance the company's liquidity and financial flexibility.
Key Highlights
- 1Increased total revolving credit facility capacity by $600 million ($400 million on Nordea facility, $200 million on BNS facility).
- 2The Nordea Credit Agreement now totals $1.55 billion.
- 3The BNS Credit Agreement now totals $1.925 billion.
- 4These increases were achieved by exercising the 'accordion feature' under existing credit agreements.
- 5The filing date was March 10, 2020, with the event date being March 4, 2020.
- 6This move provides greater financial flexibility and access to funds.