Norwegian Cruise Line Holdings Ltd. (NCLH): debt financing — NCLH secures ~$4.9B in SACE-backed credit facilities for two new cruise ships (delivery 2030, 2032)

Norwegian Cruise Line Holdings Ltd.

Vessel 1 facility up to $2.437B, Vessel 2 up to $2.470B, each including SACE insurance premium.
Loans fund 80% of construction payments; repayment in 24 semi-annual installments over 12 years post-delivery.
Fixed interest rate = (1.55% – SIMEST margin contribution) + 5.08% Commercial Interest Reference Rate; floating option available.
Guaranteed by NCL Corporation Ltd. and secured by share charge (pre-delivery) and first-lien ship mortgage (post-delivery).
Ships built by Fincantieri S.p.A.; 100% of loans insured by Italian ECA SACE.

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

Norwegian Cruise Line Holdings Ltd. incurred loan of $2,437,323,477.36 for Vessel 1 and $2,469,681,624.15 for Vessel 2 with Crédit Agricole Corporate and Investment Bank at fixed interest rate equal to the difference between 1.55% per annum and the SIME maturing twelfth anniversary of the delivery date of the relevant Ship.

Instrument: loan
Principal: $2,437,323,477.36 for Vessel 1 and $2,469,681,624.15 for Vessel 2
Counterparty: Crédit Agricole Corporate and Investment Bank
Rate: fixed interest rate equal to the difference between 1.55% per annum and the SIME
Maturity: twelfth anniversary of the delivery date of the relevant Ship
Event: incurrence

Exact text from the filing

On July 17, 2025, NCL Corporation Ltd. (“NCLC”), a subsidiary of Norwegian Cruise Line Holdings Ltd. (“NCLH”), as guarantor, and its subsidiaries NCL NextGen Class I Ltd. and NCL NextGen Class II Ltd., as borrowers, entered into separate credit facility agreements (collectively, the “Credit Facilities”) with, among others, Crédit Agricole Corporate and Investment Bank, as facility agent, ECA agent and security agent, and certain banks and financial institutions from time to time party thereto as lenders, for the financing of two new cruise vessels to be purchased by NCL NextGen Class I Ltd. (“Vessel 1”) and NCL NextGen Class II Ltd. (“Vessel 2”

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7 debt financings filed in the last 30 days. Browse all debt financings →

Norwegian Cruise Line Holdings Ltd. filing history →

Source: SEC EDGAR

accession 0001104659-25-069314

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