ROYAL CARIBBEAN CRUISES LTD (RCL): debt financing — Royal Caribbean upsizes revolving credit to $3.536B, extends maturities to 2026/2028

ROYAL CARIBBEAN CRUISES LTD

Aggregate revolving commitments increased from $2.3B to $3.536B.
$1.575B of commitments extended to October 2026; another $1.575B to October 2028.
Remaining $242M matures April 2025 and $145M matures April 2024; pricing reduced.
Repaid $501.6M outstanding under the unsecured term loan due October 2024.
Facility can be further increased to $5B under certain conditions with added lender commitments.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

ROYAL CARIBBEAN CRUISES LTD amended revolving credit of from $2.3 billion to $3.536 billion at reduce pricing maturing October 2026 and October 2028 for $1.575 billion each; remaining $242 million at April 2025 and $145 million at April 2024.

Instrument: revolving credit
Principal: from $2.3 billion to $3.536 billion
Rate: reduce pricing
Maturity: October 2026 and October 2028 for $1.575 billion each; remaining $242 million at April 2025 and $145 million at April 2024
Event: amendment

Exact text from the filing

facilities, each due April 2025 (collectively, the “Revolving Credit Facilities”). The Amendments, among other things: · increase our aggregate revolving credit commitments from $2.3 billion to $3.536 billion; · extend the maturity date or termination date for $1.575 billion of the aggregate commitments to October 2026; · extend the maturity date or termination date

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

ROYAL CARIBBEAN CRUISES LTD amended Amendments (effective 2023-10-04).

Action: amendment
Agreement: credit facility
Effective: 2023-10-04

Exact text from the filing

On October 4, 2023, Royal Caribbean Cruises Ltd. (the "Company," "our" and "we") entered into amendments (collectively, the "Amendments") to our unsecured revolving credit facilities, each due April 2025 (collectively, the "Revolving Credit Facilities").

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Source: SEC EDGAR

accession 0001104659-23-108475

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