Royal Caribbean (RCL +4.7%) enters into a $2.2B 364-day secured term loan facility to help enhance the cruise line operator’s liquidity position.
The facility can be extended at RCL’s option for an additional 364 days.
The company has now borrowed the full amount available under the term loan and has over $3.6B of liquidity comprised of cash deposits and its existing undrawn revolving credit facilities. In addition, the company has committed financing for all of its new ships on order.
Source: Press Release