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…

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.”