A unit of U.S.-Norwegian cruise line Royal Caribbean Cruises Ltd has agreed a loan of up to 444 million euros ($562 mln) with Germany's KfW IPEX-Bank GmbH to finance a new vessel, Royal Caribbean said.
"The company intends to use the proceeds of the loan towards the purchase of the fourth Solstice-class ship which is scheduled for delivery in the third quarter of 2011," the company said in a statement on Wednesday.
Miami-based Royal Caribbean unit Celebrity Solstice IV Inc agreed the 12-year unsecured loan with the German bank, which specialises in export and project financing, at a fixed interest rate of 5.82 percent, the company said.
Under certain circumstances, the interest may be converted to a floating rate of LIBOR plus the applicable margin upon payment of breakage costs, if any, it said.
"The company intends to use the proceeds of the loan towards the purchase of the fourth Solstice-class ship which is scheduled for delivery in the third quarter of 2011," the company said in a statement on Wednesday.
Miami-based Royal Caribbean unit Celebrity Solstice IV Inc agreed the 12-year unsecured loan with the German bank, which specialises in export and project financing, at a fixed interest rate of 5.82 percent, the company said.
Under certain circumstances, the interest may be converted to a floating rate of LIBOR plus the applicable margin upon payment of breakage costs, if any, it said.