Royal Caribbean obtains additional $50 million commitments for revolver

New York, July 28 - Royal Caribbean Cruises Ltd. said it obtained an additional $50 million of commitments for its unsecured revolving credit facility during July, increasing availability to $550 million.

The Miami cruise line said the increase in size does not alter any of the facility's terms.

Royal Caribbean originally closed on the $500 million five-year revolver at the end of March.

Salomon Smith Barney Inc. and Nordea served as joint lead arrangers and Den Norske Bank was documentation agent for the facility.

At the time, Royal Caribbean said it had the option to increase the facility to $1 billion on receipt of additional commitments.

The interest rate was Libor plus 175 basis points.

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