Royal Caribbean arranges loan for portion of Silversea stake


RCL is paying $1bn and assuming about $500m in debt for the Silversea deal.

Aggregate principal amount up to $700m

The loan agreement makes available to RCL on any single business day an aggregate principal amount not to exceed $700m in the form of term loans denominated in US dollars. The interest rate will range from a rate equal to LIBOR plus a margin of 0.9% to 1.5% per annum or a base rate plus a margin of 0% to 0.5% per annum, depending on RCL’s senior debt rating.

After a 60-day grace period, and until the commitments of the lenders have terminated, RCL will pay the lenders a ticking fee equal to a percentage ranging from 0.08% to 0.2% per annum, depending on the company’s senior debt rating. The commitments of the lenders to make advances will terminate on the earlier of the date of…

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