Royal Caribbean Group Amends Credit Facility
Royal Caribbean Group (NYSE: RCL) (the "Company") today announced that it has successfully amended and extended the majority of its two unsecured revolving credit facilities. The amendment has extended the maturities of $2.3 billion of the $3.0 billion aggregate revolving capacity by one year to April 2025, with the remainder maturing in April 2024.
"The successful extension of our credit facilities is a testament to our strong relationship with key lenders and their confidence in the Royal Caribbean Group," said Naftali Holtz, chief financial officer. "Our liquidity position remains strong and strengthening driven by our strong booked position, and delivering positive EBITDA cash flow generation," added Holtz. "This extension, coupled with the repayment of $0.6 billion of debt in the fourth quarter of 2022, is a continuation of our proactive and methodic improvement of the balance sheet as we seek to return to an investment grade profile balance sheet."
Royal Caribbean Group (NYSE: RCL) is one of the leading cruise companies in the world, with a global fleet of 64 ships traveling to approximately 1,000 destinations worldwide. Royal Caribbean Group owns and operates three award-winning cruise brands: Royal Caribbean International, Celebrity Cruises, and Silversea Cruises. It is also a 50% owner of a joint venture that operates TUI Cruises and Hapag-Lloyd Cruises. The brands have an additional ten ships on order as of December 31, 2022.
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