Royal Caribbean Cruises Ltd. (NYSE: RCL; Oslo) today announced it has arranged commitments for unsecured financing in the amount of up to USD 1,130,000,000 or 80 percent of the contract price of Royal Caribbean International's Allure of the Seas.
The facility will be 95 percent guaranteed by Finnvera, the official export credit agency of Finland, and amortizes over 12 years. BNP Paribas, Citi, Nordea Bank and SEB have each committed to provide 25 percent of the financing and each has a seven year put option. The company has an option of a floating or fixed rate of interest. The commitments are subject only to customary closing conditions.