Royal Caribbean and Norwegian Cruise Line Leverage German Payment Holiday Offer
Royal Caribbean and Norwegian Cruise Line Leverage German Payment Holiday Offer According to a statement filed with the Security and Exchange Committee - Both Norwegian Cruise Line and Royal Caribbean have agreed to leverage an offer from the German Government to delay payments on the mortgages / loans - for ships constructed in Germany. The terms will not eliminate payments - but allow the cruise lines to forgo payments for the next 12 months and extend the loan by 12 months. The official filing is as follows: Norwegian Cruise Line. Beginning on April 20, 2020, NCL Corporation Ltd. (“NCLC”), a subsidiary of Norwegian Cruise Line Holdings Ltd. (the “Company”), amended the export-credit backed facilities that finance Norwegian Bliss, Norwegian Breakaway, Norwegian Encore, Norwegian Escape, Norwegian Getaway and Norwegian Joy to incorporate the terms of a 12-month debt holiday initiative offered to the cruise industry by Euler Hermes Aktiengesellschaft (“Hermes”), th...