---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-25-063252"
form_type: "8-K"
ticker: null
cik: "0001318742"
company_name: "NCL CORP Ltd."
filed_at: "2025-06-27T23:59:59+00:00"
generated_at: "2026-05-18T15:34:24.281427+00:00"
event_type: "debt"
sentiment: "positive"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# NCL Corp expands revolver by $786M to $2.486B, aligns 2029 note collateral

## Summary
- Revolving loan commitments increased from $1.70B to $2.486B; maturity January 22, 2030 with conditional early maturity triggers.
- Interest terms: SOFR + 1.00%-2.00% for benchmark loans; alternate base rate plus 0.00%-1.00%.
- Added five new guarantors (vessel-owning entities) and their vessels as collateral; released one prior guarantor.
- Supplemental indenture for 8.125% 2029 Secured Notes swaps collateral to match the revolver on a pari passu basis.

## SEC filing metadata
- accession: 0001104659-25-063252
- form_type: 8-K
- cik: 0001318742
- company_name: NCL CORP Ltd.
- filed_at: 2025-06-27T23:59:59+00:00
- event_type: debt
- sentiment: positive
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 1.01, 2.03, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1318742/000110465925063252/0001104659-25-063252-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1318742/000110465925063252/tm2519095d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-25-063252
- JSON: https://secwatch.observer/filing/0001104659-25-063252.json
- Plain text: https://secwatch.observer/filing/0001104659-25-063252.txt

## Key facts
- Debt Financings
  NCL CORP Ltd. amended revolving credit of from $1,700,000,000 to $2,486,000,000 with JPMorgan Chase Bank, N.A., as administrative agent and collateral agent at alternate base rate plus a margin of between 0.00% and 1.00% ... adjusted term S maturing January 22, 2030.
  - Instrument: revolving credit
  - Principal: from $1,700,000,000 to $2,486,000,000
  - Counterparty: JPMorgan Chase Bank, N.A., as administrative agent and collateral agent
  - Rate: alternate base rate plus a margin of between 0.00% and 1.00% ... adjusted term S
  - Maturity: January 22, 2030
  - Event: amendment
  source text: The ARCA Amendment, among other things, increased the aggregate amount of the lenders' commitments under the senior secured revolving loan facility (the "Revolving Loan Facility") from $1,700,000,000 to $2,486,000,000.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1318742/000110465925063252/0001104659-25-063252-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.