KfW IPEX-Bank has announced that it has committed to finance the third Quantum-class cruise ship commissioned by Royal Caribbean Cruises Ltd. (RCL) to be built at Meyer Werft.

The purchase price of the ship is similar to that of the first two Quantum vessels. The financing, to be paid out in U.S. dollars, will have a duration of 12 years from delivery. It is backed by an export credit guarantee of the Federal Republic of Germany (Euler Hermes cover) and integrates the CIRR (Commercial Interest Reference Rate) for ship financing set by the OECD.

KfW IPEX-Bank said it is continuing its working relationship with Meyer Werft and Royal Caribbean Cruises. Upon the delivery of Quantum III, the three parties will have built eight cruise ships together.

With a gross tonnage of 167,800 and 2,090 cabins on 16 decks, the new vessel will accommodate around 4,200 passengers. Its high energy efficiency will also make the newbuild one of the most eco-friendly cruise ships.

This third Quantum-class ship, which has yet to be named, will expand the RCL fleet in 2016 when it follows on its sister ships, Quantum of the Seas and Anthem of the Seas, which are currently being built and are due to be launched in autumn 2014 and spring 2015, respectively.

KfW Ipex-Bank is also financing the Quantum of the Seas and the Anthem of the Seas.