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Royal Caribbean Group Acquires Cruise Ship Endeavor for USD 275m.

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MANews-(C)2009-2022

Miami, US-based cruise line Royal Caribbean Group (NYSE: RCL) has received court approval to acquire the ultra-luxury cruise ship Endeavor, the group said.

Originally delivered to Crystal Cruises in 2021, the ship will be renamed Silver Endeavour when it officially joins the Group's wholly owned subsidiary, Silversea Cruises' fleet, this month.

The purchase price for the vessel was USD 275m, significantly below the cost of construction.

The vessel was fully financed through a 15-year unsecured term loan, guaranteed by the German export credit agency, Euler Hermes, with no amortization payments in the first two years. The acquisition is expected to be immediately accretive to earnings, cash flow and ROIC.

Built to PC6 polar class specifications, the ship can operate all of Silversea's current expedition itineraries and is designed specifically to take travelers to the world's most remote destinations, including both polar regions.

Silver Endeavour's expedition amenities offer guests some of the most immersive and luxury experiences available, including traveling with a fleet of zodiac boats for remote exploration.

As part of the ongoing RCL Cares program, Royal Caribbean Group will protect the deposits of guests who were originally booked on Crystal Endeavor and make a new booking on one...

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