12 Dec 2014
In SEC filings,Royal Caribbean announced it had refinanced its deal in place for Brilliance of the Seas by terminating the lease and buying the ship outright for $275 million.
Royal Caribbean leased the ship when it was built back in July 2002 under a 25-year operating lease. The move today eliminates that lease obligation by purchasing the ship.
Royal Caribbean funded the purchase through drawings under their revolving credit facilities. Royal Caribbean also indicated they will not recognize any gain or loss in connection with this refinancing deal.
