Carnival Corporation and plc, the largest cruise shipping group in the world, said it had a total of $11.7 billion of liquidity at the end of February
“This included $3.0 billion of immediate liquidity plus $2.8 billion from four committed export credit facilities that are available to fund the originally planned ship deliveries for the remainder of this year,”the company said in a statement.
It also has $5.9 billion from committed export credit facilities that are available to fund ship deliveries originally planned in 2021 and beyond.
“On March 13, 2020, the Corporation fully drew down its $3.0 billion multi-currency revolving credit. The Corporation borrowed under the Facility Agreement in order to increase its cash position and preserve financial flexibility in light of current uncertainty in the global markets resulting from the COVID-19 outbreak,”the company said.
“Substantially all of the Corporation's assets, with the exception of certain ships with a net book value of approximately $6 billion as of February 29, 2020, are currently available to be pledged as collateral,”Carnival added.