Norwegian Cruise Line gets $1.3 billion five-year credit facility

By Sara Rosenberg

New York, May 29 - Norwegian Cruise Line closed on its $1.3 billion five-year credit facility (Ba2/BB+), according to a news release.

Deutsche Bank Securities Inc., DnB NOR Markets Inc., Nordea, Barclays, Citigroup Global Markets Inc., Goldman Sachs & Co., J.P. Morgan Securities LLC and UBS Securities LLC are the bookrunners on the deal.

The facility consists of a $675 million term loan and a $625 million revolver.

During syndication, the term loan was upsized from $600 million and the revolver was upsized from $500 million.

Pricing on the credit facility can range from Libor plus 150 basis points to 225 bps based on leverage.

Proceeds were used to refinance existing debt.

Norwegian Cruise Line is a Miami-based cruise line operator.

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