NCL Corporation Ltd. (NCLC), a subsidiary of Norwegian Cruise Line Holdings Ltd. (NCLH), and is lenders have entered in three financial agreements.
The first one concerns amendment of an Existing Senior Secured Credit Facility, NCLH said in a statement. This includes reprice and increase the existing $750 million revolving credit facility with a new $875 million revolving credit facility. The second agreement covers repricing the approximately $1,412 million principal amount outstanding under the existing senior secured term A facility and the third one adding a new $375 million term B loan facility due 2021.
“The applicable margin under the New Term A Loan Facility and New Revolving Facility is determined by reference to a total leverage ratio, with an applicable margin of between 2.00% and 1.25% with respect to Eurocurrency loans and between 1.00% and 0.25% with respect to base rate loans. NCLC used proceeds from the New Term B Loan Facility and cash on hand for the Redemption (as defined below). JPM acted as lead arranger for the amendment,” NCLH said in a statement.