• SEC Filings

Each agreement makes available to Royal Caribbean Cruises Ltd., upon acceptance and delivery of the relevant ship, an unsecured term loan guaranteed 50% by Bpifrance Assurance Export (“BpiFAE”), the official export credit agency of France. The loans for the fifth Oasis-class ship and the fourth Edge-class ship will be denominated in US dollars while the loan for the third Edge-class ship will be denominated in Euro. The maximum amount of each facility is equal to 80% of the vessel purchase price plus 50% of the premium payable to BpiFAE or, in the case of Oasis 5 and Edge 4, the US dollar equivalent thereof.

Each loan, once assigned to us upon delivery of the ship, will amortize semi-annually and will mature twelve years thereafter. Interest on the US dollar denominated loans will accrue at a fixed rate of 3.18% (inclusive of margin) while interest on the Euro denominated loan will accrue at a fixed rate of 1.28%. The credit agreements contain customary events of default and prepayment events for, among other things, non-payment, breach of covenants, default on certain other indebtedness, certain large judgments and a change of control of the Company.

Certain of the lenders participating in the facility, and affiliates of those parties, provide banking, investment banking and other financial services to us from time to time for which they have received, and will in the future receive, customary fees.

The foregoing description of the provisions of the credit agreements is summary in nature and is qualified in its entirety by reference to the full and complete terms of the credit agreements, copies of which are filed herewith as Exhibit 10.1, Exhibit 10.2 and Exhibit 10.3 and incorporated herein by reference.

The disclosure required by this item is included in Item 1.01 of this Current Report on Form 8-K and is incorporated herein by reference.

10.1 Novation Agreement, dated as of July 24, 2017, between Hibisyeu Finance Ltd., Royal Caribbean Cruises Ltd., Citibank Europe Plc, UK Branch, Citicorp Trustee Company Limited, Citibank N.A., London Branch, HSBC France, Sumitomo Mitsui Banking Corporation Europe Limited, Paris Branch and the banks and financial institutions as lender parties thereto.

10.2 Novation Agreement, dated as of July 24, 2017, between Hoediscus Finance Ltd., Royal Caribbean Cruises Ltd., Citibank Europe Plc, UK Branch, Citicorp Trustee Company Limited, Citibank N.A., London Branch, HSBC France, Sumitomo Mitsui Banking Corporation Europe Limited, Paris Branch and the banks and financial institutions as lender parties thereto.

10.3 Novation Agreement, dated as of July 24, 2017, between Houatorris Finance Ltd., Royal Caribbean Cruises Ltd., Citibank Europe Plc, UK Branch, Citicorp Trustee Company Limited, Citibank N.A., London Branch, HSBC France, Sumitomo Mitsui Banking Corporation Europe Limited, Paris Branch and the banks and financial institutions as lender parties thereto.

ROYAL CARIBBEAN CRUISES LTD Exhibit
EX-10.1 2 ex10_1.htm EXHIBIT 10.1 Exhibit 10.1   Private & Confidential   SRH/LD04740     Dated 24 July 2017           HIBISYEU FINANCE LIMITED as Existing Borrower   ROYAL CARIBBEAN CRUISES LTD. as New Borrower   CITIBANK EUROPE PLC,…
To view the full exhibit click here

About ROYAL CARIBBEAN CRUISES LTD. (NYSE:RCL)

Royal Caribbean Cruises Ltd. is a cruise company. The Company owns various brands, such as Royal Caribbean International, Celebrity Cruises, Pullmantur, Azamara Club Cruises, CDF Croisieres de France and joint venture interest in TUI Cruises. It operates approximately 23 ships with an aggregate capacity of approximately 68,600 berths under its Royal Caribbean International brand, offering cruise itineraries that range from 2 to 24 nights. It operates over 11 ships with an aggregate capacity of approximately 24,900 berths under its Celebrity Cruises brand. It operates over two ships with an aggregate capacity of approximately 1,400 berths under its Azamara Club Cruises brand, offering cruise itineraries that range from 3 to 20 nights. It operates approximately three ships with an aggregate capacity of approximately 6,200 berths under its Pullmantur brand. It operates over two ships with an aggregate capacity of approximately 2,800 berths under its CDF Croisieres de France brand.