Royal Caribbean receives finance for Allure of the Seas

Royal Caribbean Cruises has revealed financing has been put in place for the second of its 5,400-passenger ships, the world’s largest ever built.

The world’s second largest cruise operator today announced it had secured $1.13 billion, or 80% of the cost of Allure of the Seas, sister ship to Oasis of the Seas, which was launched last month.

In a statement Royal Caribbean said the facility will be 95% guaranteed by Finnvera, the official export credit agency of Finland, over a 12 year period.

In addition, banks BNP Paribas, Citibank, Nordea Bank and SEB have each committed to provide 25% of the financing and each has a seven year option.

The company has an option of a floating or fixed rate of interest. Royal Caribbean said the commitments are subject only to “customary closing conditions.”

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