Snubbed in U.S. Rescue, Cruise Lines Get Relief From Germany
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After missing out on U.S. emergency aid, Norwegian Cruise Line Holdings Ltd. and Royal Caribbean Cruises Ltd. are benefiting from a debt-holiday initiative by Germany’s export credit agency, Euler Hermes Aktiengesellschaft.
Norwegian said the 12-month debt holiday -- which applies to debt used to finance ships -- will provide about $386 million in additional liquidity through April 2021. Royal Caribbean said it will add $250 million through debt holiday agreements with Euler.