| Schedule of long-term debt |
Long-term debt consisted of the following:
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|
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|
|
Interest Rate |
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|
Balance |
|
|
December 31, |
|
Maturities |
|
December 31, |
|
|
2020 |
|
2019 |
|
Through |
|
2020 |
|
2019 |
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|
|
|
|
|
|
|
(in thousands) |
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|
|
$875.0 million senior secured Revolving Loan Facility |
|
1.90 |
% |
— |
|
2024 |
|
$ |
875,000 |
|
$ |
— |
$75.0 million revolving credit line |
|
— |
|
2.75 |
% |
2020 |
|
|
— |
|
|
75,000 |
Term Loan A Facility |
|
1.93 |
% |
3.06 |
% |
2024 |
|
|
1,536,417 |
|
|
1,565,512 |
$400.0 million L. Catterton exchangeable notes (1) |
|
7.00 |
% |
— |
|
2026 |
|
|
278,148 |
|
|
— |
$862.5 million 6.000% exchangeable notes |
|
6.00 |
% |
— |
|
2024 |
|
|
834,941 |
|
|
— |
$450.0 million 5.375% exchangeable notes |
|
5.38 |
% |
— |
|
2025 |
|
|
439,390 |
|
|
— |
$675.0 million 12.25% senior secured notes (2) |
|
12.25 |
% |
— |
|
2024 |
|
|
650,178 |
|
|
— |
$750.0 million 10.25% senior secured notes |
|
10.25 |
% |
— |
|
2026 |
|
|
739,295 |
|
|
— |
$850.0 million 5.875% senior unsecured notes |
|
5.88 |
% |
— |
|
2026 |
|
|
837,659 |
|
|
— |
$565.0 million 3.625% senior unsecured notes |
|
3.63 |
% |
3.63 |
% |
2024 |
|
|
560,019 |
|
|
558,781 |
$260 million Norwegian Jewel term loan |
|
1.52 |
% |
2.54 |
% |
2022 |
|
|
221,718 |
|
|
221,860 |
$230 million Pride of America term loan |
|
1.15 |
% |
2.81 |
% |
2022 |
|
|
229,558 |
|
|
229,621 |
€529.8 million Breakaway one loan (3) |
|
1.15 |
% |
2.84 |
% |
2025 |
|
|
307,529 |
|
|
305,969 |
€529.8 million Breakaway two loan (3) |
|
3.90 |
% |
4.10 |
% |
2026 |
|
|
343,214 |
|
|
370,531 |
€590.5 million Breakaway three loan (3) |
|
2.83 |
% |
2.98 |
% |
2027 |
|
|
481,085 |
|
|
478,665 |
€729.9 million Breakaway four loan (3) |
|
2.85 |
% |
2.98 |
% |
2029 |
|
|
633,699 |
|
|
630,088 |
€710.8 million Seahawk 1 term loan (3) |
|
3.69 |
% |
3.92 |
% |
2030 |
|
|
695,843 |
|
|
692,150 |
€748.7 million Seahawk 2 term loan (3) |
|
3.71 |
% |
3.92 |
% |
2031 |
|
|
860,212 |
|
|
856,188 |
Leonardo newbuild one loan |
|
2.68 |
% |
2.68 |
% |
2034 |
|
|
95,563 |
|
|
48,009 |
Leonardo newbuild two loan |
|
2.77 |
% |
2.77 |
% |
2035 |
|
|
48,009 |
|
|
48,009 |
Leonardo newbuild three loan |
|
1.22 |
% |
1.22 |
% |
2036 |
|
|
46,519 |
|
|
42,700 |
Leonardo newbuild four loan |
|
1.31 |
% |
1.31 |
% |
2037 |
|
|
46,519 |
|
|
42,700 |
Splendor newbuild loan |
|
2.97 |
% |
— |
|
2032 |
|
|
402,177 |
|
|
— |
Explorer newbuild loan |
|
3.39 |
% |
3.43 |
% |
2028 |
|
|
251,634 |
|
|
242,449 |
Marina newbuild loan |
|
1.03 |
% |
2.75 |
% |
2025 |
|
|
134,821 |
|
|
156,319 |
Riviera newbuild loan |
|
0.96 |
% |
2.48 |
% |
2024 |
|
|
203,038 |
|
|
202,233 |
Term loan - newbuild related |
|
2.50 |
% |
— |
|
2021 |
|
|
26,387 |
|
|
— |
Finance lease and license obligations |
|
Various |
|
Various |
|
2028 |
|
|
27,547 |
|
|
34,909 |
Total debt |
|
|
|
|
|
|
|
|
11,806,119 |
|
|
6,801,693 |
Less: current portion of long-term debt |
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|
|
|
|
|
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|
(124,885) |
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|
(746,358) |
Total long-term debt |
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|
|
|
|
|
|
$ |
11,681,234 |
|
$ |
6,055,335 |
| (1) |
Includes discount related to a beneficial conversion feature of $124.5 million as of December 31, 2020.
|
| (2) |
Includes original issue discount of $5.9 million as of December 31, 2020.
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| (3) |
Currently U.S. dollar-denominated. |
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| Schedule of principal repayments on long-term debt including finance lease obligations |
As a result of the aforementioned executed amendments, we have reclassified $671.1 million of debt which was originally classified as a current liability based on the contractual maturities outstanding at December 31, 2020 to long-term debt. The following are scheduled principal repayments on long-term debt including finance lease obligations as of December 31, 2020 for each of the next five years (in thousands):
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|
|
|
Year |
|
Amount |
2021 |
|
$ |
124,829 |
2022 |
|
|
1,192,923 |
2023 |
|
|
917,893 |
2024 |
|
|
5,051,867 |
2025 |
|
|
1,045,773 |
Thereafter |
|
|
3,818,798 |
Total |
|
$ |
12,152,083 |
|