Royal Caribbean Takes Out a New $2.2 Billion Loan
Royal Caribbean (NYSE: RCL) this week took a big step toward shoring up its finances in the wake of a historic drop in ticket sales and passenger volumes. The cruise giant said on Monday it has secured a new $2.2 billion credit arrangement that it has since drawn down fully. The move puts the company's cash and equivalents at over $3.6 billion as of late March, management said in a press release.
"This is a period of unprecedented disruption for the cruise industry," CFO Jason Liberty said. "We continue to take decisive actions to protect the company's financial and liquidity positions."
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Source Fool.com
