debt
confidence high
sentiment neutral
materiality 0.70
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.
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