Norwegian Cruise Line Holdings today announced that it has amended its existing $1 billion commitment with funds managed by affiliates of Apollo Global Management and extended it through March 31, 2023, providing additional liquidity to the Company.

The Company has not drawn and does not currently intend to draw under this commitment.

“We are pleased to reach an agreement with Apollo to extend our existing undrawn $1 billion commitment for an additional seven months,” said Mark A. Kempa, executive vice president and chief financial officer of Norwegian Cruise Line Holdings Ltd. “While we do not currently intend to draw on this facility, we believe extending was the prudent path to take to help us navigate the current volatile macroeconomic and capital markets environment. The facility provides the Company a liquidity backstop if needed, allowing us to focus our efforts on our continued operational and financial recovery.”

John Zito, Deputy CIO of Credit at Apollo, said: “Apollo is thrilled to continue its long-standing relationship with Norwegian Cruise Line Holdings Ltd. by providing an undrawn $1 billion liquidity facility to the company. The facility assures capital access and highlights the strength of the Apollo Credit franchise and our continued ability to provide capital solutions in a challenging capital markets backdrop. Norwegian’s established brands and the sector’s accelerating consumer demand give us confidence in being a large capital source for the company.”

The new amended and restated commitment letter supersedes the $1 billion commitment originally executed in November 2021.