Item 1.01 Entry into a Material Definitive Agreement.
On
The loan, once funded, will amortize semi-annually and will mature twelve years following the delivery of the ship. Approximately 60% of the loan will accrue interest at a fixed rate of 3.29%. Approximately 30% of the loan will accrue interest at a floating rate of LIBOR plus 0.85%. At our election, the remainder of the loan will accrue interest at a fixed rate of 4.34% or at a floating rate of LIBOR plus 0.85%. The credit agreement contains customary events of default and prepayment events for, among other things, non-payment, breach of covenants, default on certain other indebtedness, certain large judgments and a change of control of the Company.
Certain of the lenders participating in the facility, and affiliates of those lenders, provide credit and other financial services to us from time to time for which they have received, and will in the future receive, customary fees.
The foregoing description of the provisions of the credit agreement is summary in nature and is qualified in its entirety by reference to the full and complete terms of the credit agreement, a copy of which is filed herewith as Exhibit 10.1 and incorporated herein by reference.
Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an
Off-Balance Sheet Arrangement of a Registrant
The disclosure required by this item is included in Item 1.01 of this Current Report on Form 8-K and is incorporated herein by reference.
Item 9.01 Financial Statements and Exhibits
(d) Exhibits 10.1 Icon 3 Hull No. 1402 Credit Agreement, dated as ofDecember 18, 2019 , betweenRoyal Caribbean Cruises Ltd. , as the Borrower,KfW IPEX-Bank GmbH , as Facility Agent, CIRR Agent, Documentation Agent,Hermes Agent , Initial Mandated Lead Arranger and Sole Bookrunner, and the Lenders and Residual Risk Guarantors from time to time party thereto. 104 Cover Page Interactive Data File (the cover page XBRL tags are embedded in the Inline XBRL document).
© Edgar Online, source