What is the purpose of the $700 million Liquidity Facility?

The $700 million Liquidity Facility is a source of funding that Royal Caribbean Cruises Ltd. can draw upon to meet its financial obligations and maintain operational flexibility.

What are the terms of the loan once drawn?

Once drawn, the loan will bear interest at SOFR + 5.75% and will mature 364 days from the funding date.

Has the maturity date of the facility changed?

No, the maturity date of the facility has not changed; only the availability period for drawing under the facility has been extended to August 11, 2023.

Does this filing provide an update on the company's financial performance or outlook?

No, this 8-K filing is solely related to the extension of the $700 million Liquidity Facility and does not contain any updates on the company's financial performance or future outlook.

RCL 8-K SEC Disclosure — Aug 22, 2022

Summary

Royal Caribbean Cruises Ltd. (RCL) has announced an extension to its $700 million Liquidity Facility, originally provided by Morgan Stanley Senior Funding Inc. The availability period for drawing under this facility has been extended from August 12, 2022, to August 11, 2023. This extension provides the company with continued access to a significant source of liquidity, which is crucial for managing operational needs and financial flexibility in the current economic environment.

Key Highlights

1Extension of $700 million Liquidity Facility to August 11, 2023.
2Original commitment from Morgan Stanley Senior Funding Inc.
3Facility is guaranteed by RCI Holdings LLC.
4Interest rate for drawn funds: SOFR + 5.75%.
5Maturity of the loan: 364 days from funding.
6This filing provides no new financial performance data.

ROYAL CARIBBEAN CRUISES LTD 8-K Report, Corporate Update (Aug 22, 2022)

Summary

Key Highlights

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