| Schedule of long-term debt |
Long-term debt consisted of the following:
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|
|
|
|
|
|
|
|
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|
|
|
Interest Rate |
|
|
|
Balance |
|
|
December 31, |
|
Maturities |
|
December 31, |
|
|
2019 |
|
2018 |
|
Through |
|
2019 |
|
2018 |
|
|
|
|
|
|
|
|
(in thousands) |
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|
|
|
|
|
|
|
|
|
|
|
$875.0 million senior secured revolving credit facility |
|
— |
|
3.96 |
% |
2024 |
|
$ |
— |
|
$ |
130,000 |
$75.0 million revolving credit line |
|
2.75 |
% |
— |
|
2020 |
|
|
75,000 |
|
|
— |
Term Loan A |
|
3.06 |
% |
4.01 |
% |
2024 |
|
|
1,565,512 |
|
|
1,256,167 |
$375.0 million Term Loan B (1) |
|
— |
|
4.26 |
% |
2021 |
|
|
— |
|
|
368,982 |
$700.0 million 4.750% senior unsecured notes |
|
— |
|
4.75 |
% |
2021 |
|
|
— |
|
|
561,021 |
$565.0 million 3.625% senior unsecured notes |
|
3.63 |
% |
— |
|
2024 |
|
|
558,781 |
|
|
— |
€662.9 million Norwegian Epic term loan (2) |
|
— |
|
4.58 |
% |
2022 |
|
|
— |
|
|
259,394 |
$260 million Norwegian Jewel term loan |
|
2.54 |
% |
— |
|
2022 |
|
|
221,860 |
|
|
— |
$230 million Pride of America term loan |
|
2.81 |
% |
— |
|
2021 |
|
|
229,621 |
|
|
— |
€529.8 million Breakaway one loan (2) |
|
2.84 |
% |
4.09 |
% |
2025 |
|
|
305,969 |
|
|
360,680 |
€529.8 million Breakaway two loan (2) |
|
4.10 |
% |
4.50 |
% |
2026 |
|
|
370,531 |
|
|
426,503 |
€590.5 million Breakaway three loan (2) |
|
2.98 |
% |
2.98 |
% |
2027 |
|
|
478,665 |
|
|
537,223 |
€729.9 million Breakaway four loan (2) |
|
2.98 |
% |
2.98 |
% |
2029 |
|
|
630,088 |
|
|
694,536 |
€710.8 million Seahawk 1 term loan (2) |
|
3.92 |
% |
3.92 |
% |
2030 |
|
|
692,150 |
|
|
756,061 |
€748.7 million Seahawk 2 term loan (2) |
|
3.92 |
% |
3.92 |
% |
2031 |
|
|
856,188 |
|
|
187,612 |
Leonardo newbuild one loan |
|
2.68 |
% |
2.68 |
% |
2034 |
|
|
48,009 |
|
|
48,009 |
Leonardo newbuild two loan |
|
2.77 |
% |
2.77 |
% |
2035 |
|
|
48,009 |
|
|
48,009 |
Leonardo newbuild three loan |
|
1.22 |
% |
1.22 |
% |
2036 |
|
|
42,700 |
|
|
43,667 |
Leonardo newbuild four loan |
|
1.31 |
% |
1.31 |
% |
2037 |
|
|
42,700 |
|
|
43,667 |
Sirena loan |
|
— |
|
2.75 |
% |
2019 |
|
|
— |
|
|
13,856 |
Explorer newbuild loan |
|
3.43 |
% |
3.43 |
% |
2028 |
|
|
242,449 |
|
|
268,970 |
Marina newbuild loan (3) |
|
2.75 |
% |
3.07 |
% |
2023 |
|
|
156,319 |
|
|
201,007 |
Riviera newbuild loan (4) |
|
2.48 |
% |
3.32 |
% |
2024 |
|
|
202,233 |
|
|
247,203 |
Finance lease and license obligations |
|
Various |
|
Various |
|
2028 |
|
|
34,909 |
|
|
39,524 |
Total debt |
|
|
|
|
|
|
|
|
6,801,693 |
|
|
6,492,091 |
Less: current portion of long-term debt |
|
|
|
|
|
|
|
|
(746,358) |
|
|
(681,218) |
Total long-term debt |
|
|
|
|
|
|
|
$ |
6,055,335 |
|
$ |
5,810,873 |
| (1) |
Includes original issue discount of $0.7 million as of December 31, 2018.
|
| (2) |
Currently U.S. dollar-denominated. |
| (3) |
Includes premium of $0.1 million as of December 31, 2019 and 2018.
|
| (4) |
Includes premium of $0.1 million and $0.2 million as of December 31, 2019 and 2018, respectively.
|
|
| Schedule of principal repayments on long-term debt including finance lease obligations |
The following are scheduled principal repayments on long-term debt including finance lease obligations as of December 31, 2019 for each of the next five years (in thousands):
|
|
|
|
Year |
|
Amount |
2020 |
|
$ |
746,358 |
2021 |
|
|
899,206 |
2022 |
|
|
667,456 |
2023 |
|
|
574,492 |
2024 |
|
|
2,260,295 |
Thereafter |
|
|
1,778,870 |
Total |
|
$ |
6,926,677 |
|