Norwegian Cruise Line Holdings Ltd. (NCLH, Financial) has announced the full repayment and termination of several credit facilities as part of its strategic financial management. On December 16, 2024, the company’s indirect subsidiaries, Breakaway One, Ltd., Breakaway Two, Ltd., Riviera New Build, LLC, and Marina New Build, LLC, each delivered notices of their intent to repay in full and terminate their respective credit agreements. These agreements were officially terminated on January 3, 2025, following the repayment of all outstanding borrowings plus accrued and unpaid interest.
The Breakaway One and Breakaway Two Facilities, originally dated November 18, 2010, were managed by KfW IPEX-Bank GmbH and Commerzbank Aktiengesellschaft, among others. Meanwhile, the Riviera and Marina Facilities, dated July 18, 2008, were managed by Crédit Agricole Corporate and Investment Bank. The termination of these facilities marks a significant step in Norwegian Cruise Line Holdings' financial strategy, potentially enhancing its financial flexibility and reducing debt obligations.
In addition to these financial developments, Norwegian Cruise Line Holdings has announced a leadership transition. Ms. Andrea DeMarco, President of Regent Seven Seas Cruises, will step down from her role, with Mr. Jason Montague appointed as Chief Luxury Officer, effective February 17, 2025. Ms. DeMarco will remain in her position until March 4, 2025, to ensure a smooth transition. Mr. Frank A. Del Rio, President of Oceania Cruises, will report to Mr. Montague.
These strategic moves reflect Norwegian Cruise Line Holdings' commitment to strengthening its financial position and leadership team as it navigates the evolving cruise industry landscape.
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