Norwegian Cruise Line Holdings has secured loan facilities for the acquisition of four new cruise vessels.
The four vessels are currently being built at Italian shipyard Fincantieri.
A syndicate of nine banks has given the pre and post-delivery loan facilities.
Credit Agricole Corporate and Investment Bank acted as agents in the transaction.
Watson Farley & Williams advised Credit Agricole, the law firm said in a statement.
The facilities are backed by the Italian export credit agency SACE.
Earlier this month, Norwegian Cruise Line placed the largest newbuilding order in its history with plans for up to eight vessels across the company’s three brands.
Under the plan, the Norwegian Cruise Line brand will take delivery of four 200,000-gt ships, each with a capacity of nearly 5,000 passengers, in 2030, 2032, 2034 and 2036.
Oceania Cruises will take in two 86,000-gt ships, each with a capacity of 1,450 passengers, for delivery in 2027 and 2029, while Regent Seven Seas Cruises is scheduled to take delivery of two 77,000-gt ships, each with a capacity of 850 passengers, in 2026 and 2029.
Norwegian chief executive Harry Sommer said the new ship order provides for the “steady introduction of cutting-edge vessels into our fleet and solidifies our long-term growth”.
The new loan facilities will finance the four vessels to be delivered to Oceania Cruises and Regent Seven Sea Cruises.
Sommer said the orders will not materially increase capital expenditure requirements or the company’s net leverage.
Norwegian’s three brands — Norwegian Cruise Line, Oceania Cruises and Regent Seven Seas Cruises — operate a combined fleet of 32 ships and 66,500 berths.
The company expects to add 13 ships across its three brands before 2037, which will add about 41,000 berths to its fleet.
The cross-border multidisciplinary team that advised the lenders and SACE was led by partners Alexia Russell in Paris and Mario D’Ovidio in Milan.
“We are delighted to have been instructed by our long-term clients on this major financing for four next-generation cruise ships representing a milestone for NCLH. Our team was able to bring both cross-border experience and unrivalled maritime sector expertise to the table to ensure the transaction closed smoothly for our clients,” Russell said.
Law firm Hannaford Turner advised Norwegian Cruise Line Holdings.
