The group, which owns the Royal Caribbean, Celebrity, Azamara and Silversea cruise brands, said it had received a “binding commitment” from US bank Morgan Stanley for the loan.
The Miami-based company has currently suspended all cruises up to and including 31 October, due to the ongoing Covid-19 crisis. It hopes to resume operations from 1 November.
Royal Caribbean Group can use the $700 million loan at any time up to 12 August 2021 and if drawn, the company expects to use the money “for general corporate purposes”.
The new loan is being guaranteed by the group’s RCI Holdings subsidiary. The facility can also be increased by a further $300 million “from time to time”.
