UNITED
STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM
CURRENT REPORT
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Item 2.03. Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.
As previously disclosed, Royal Caribbean Cruises Ltd. (the “Company”) is party to (i) a Credit Agreement, as amended and restated as of October 12, 2017 and as amended on May 24, 2019 (together with all other amendments, if any, from time to time made thereto, the “Nordea Credit Agreement”), by and among the Company, Nordea Bank AB (publ), New York Branch as administrative agent and certain lenders party thereto and (ii) a Credit Agreement dated as of June 15, 2015, as amended and restated as of December 4, 2017 as further amended as of April 5, 2019 (together with all other amendments, if any, from time to time made thereto, the “BNS Credit Agreement” and collectively with the Nordea Credit Agreement, the “Revolving Credit Facilities”), by and among the Company, the Bank of Nova Scotia as administrative agent and various other financial institutions party thereto.
On March 27, 2020, in connection with the Company’s desire to increase its cash position and enable financial flexibility in light of current uncertainty resulting from the COVID-19 outbreak, the Company provided notice to the lenders under each of the Revolving Credit Facilities to complete its draw down of all remaining commitments under each Revolving Credit Facility. Upon funding of the requested draws, there will be $1,550,000,000 outstanding under the Nordea Credit Agreement and $1,925,000,000 outstanding under the BNS Credit Agreement.
For a description of the Nordea Credit Agreement and the BNS Credit Agreement please refer to the Form 8-K filed by the Company on October 17, 2017 and the Form 8-K filed by the Company on April 10, 2019, respectively.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| ROYAL CARIBBEAN CRUISES LTD. | |||
| Date: April 1, 2020 | By: | /s/ Bradley H. Stein | |
| Name: | Bradley H. Stein | ||
| Senior Vice President, General Counsel & Secretary | |||