Regent Seven Seas secures financing for Explorer newbuild
Posted: Fri Aug 09, 2013 9:18 pm
Regent Seven Seas Cruises said it entered into a loan agreement providing for borrowings up to $440m with a syndicate of financial institutions to finance 80% of the contract cost of its $450m newbuild plus the export credit premium.
The company is building the all-balcony-suite Seven Seas Explorer at Fincantieri.
Borrowings under the loan bear interest, at RSSC's election, at a fixed rate of 3.43% per year or LIBOR plus 2.8%.
The 12-year fully amortizing loan requires semi-annual principal and interest payments commencing six months following the draw down date.
The addition of the 738-berth Seven Seas Explorer in summer 2016 will boost RSSC's capacity nearly 40%.
The company is building the all-balcony-suite Seven Seas Explorer at Fincantieri.
Borrowings under the loan bear interest, at RSSC's election, at a fixed rate of 3.43% per year or LIBOR plus 2.8%.
The 12-year fully amortizing loan requires semi-annual principal and interest payments commencing six months following the draw down date.
The addition of the 738-berth Seven Seas Explorer in summer 2016 will boost RSSC's capacity nearly 40%.