Norwegian Cruise Line secures up to $5 billion in financing for two new ships
NCLH•Norwegian Cruise Line Holdings subsidiaries signed two credit facilities providing up to approximately $2.5 billion each for vessels scheduled for delivery in 2034 and 2036.
1. Ship financing
The subsidiaries signed the facilities on October 27, 2026, with Crédit Agricole as facility agent. The loans carry six-month Term SOFR, subject to a zero floor, plus a 0.9% annual margin, and finance 80% of delivery payments and relevant insurance premiums. SACE will insure 100% of the loans, subject to conditions.
2. Repayment terms
NCL Corporation guarantees the secured facilities. Each loan matures 12 years after its vessel’s delivery, with repayment beginning six months after delivery in 24 equal semiannual installments.
