RCL » Topics » Celebrity Solstice V,

This excerpt taken from the RCL 8-K filed Dec 24, 2008.
Celebrity Solstice V, which is scheduled for delivery in 2012. The loan will be funded upon delivery of the ship and will have a 12-year tenor with semi-annual amortization. The interest will be at a fixed interest rate of 4.13% (inclusive of the applicable margin). Under certain circumstances, the interest may be converted to a floating interest rate of LIBOR plus the then applicable margin upon payment of applicable breakage costs, if any. A copy of the Credit Agreement is attached as Exhibit 10.1 to this Current Report on Form 8-K and is incorporated herein by reference.

 

 

 

Item 9.01

Financial Statements and Exhibits.

 

 

(d)

Exhibits

 

Exhibit 10.1 - Credit Agreement dated as of December 19, 2008 among Celebrity Solstice V Inc., KfW IPEX-Bank GmbH, as agent for Euler Hermes Kreditversicherungs AG and administrative agent, and KfW IPEX-Bank GmbH, as lender.

 

 


This excerpt taken from the RCL 8-K filed Aug 11, 2008.
Celebrity Solstice. A copy of the Credit Agreement is attached as Exhibit 10.1 to this Current Report on Form 8-K and is incorporated herein by reference.

 

 

 

Item 9.01

Financial Statements and Exhibits.

 

 

(d)

Exhibits

 

Exhibit 10.1 - Credit Agreement dated as of August 7, 2008 among Celebrity Solstice Inc., KfW IPEX-Bank GmbH, as agent for Euler Hermes Kreditversicherungs AG and administrative agent, and KfW IPEX-Bank GmbH and BNP Paribas S.A., as lenders.

 

 


This excerpt taken from the RCL 10-Q filed Apr 24, 2008.
Celebrity Solstice, which will enter service in the fourth quarter of 2008.

 

Depreciation and amortization expenses are expected to be in the range of $525.0 million to $545.0 million, and interest expense is expected to be in the range of $320.0 million to $340.0 million.

 

Based on the expectations contained in this Outlook section, and assuming that fuel prices remain at the level of current “at-the-pump” prices, we expect full year 2008 earnings per share to be in the range of $2.85 to $3.00.

 

These excerpts taken from the RCL 10-K filed Feb 19, 2008.
Celebrity Solstice, which will enter service in December 2008.

 

Depreciation and amortization expenses were expected to be in the range of $525.0 million to $545.0 million, and interest expense was expected to be in the range of $340.0 million to $360.0 million.

 

Based on the expectations contained in this Outlook section, and assuming that fuel prices remain at the level of the January 30, 2008 “at-the-pump” prices, we expected full year 2008 earnings per share to be in the range of $3.20 to $3.40.

 

Celebrity Solstice, which will enter
service in December 2008.




 




Depreciation and amortization expenses were expected to be in the range
of $525.0 million to $545.0 million, and interest expense was expected to be in the
range of $340.0 million to $360.0 million.




 




Based on the expectations contained in this Outlook section, and
assuming that fuel prices remain at the level of the January 30, 2008
“at-the-pump” prices, we expected full year 2008 earnings per share to be
in the range of $3.20 to $3.40.




 




This excerpt taken from the RCL 8-K filed Jan 30, 2008.
Celebrity Solstice.

 

“The early indications from the ‘wave period’ are encouraging,” said Fain. “We continue to see healthy booking volumes and improved pricing over the same time last year. Based on this improving revenue performance and our focus on controlling costs, we expect 2008 to be a year of double-digit improvement in EPS.”

 

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The company does not forecast fuel prices and its cost guidance for fuel is based on current “at-the-pump” prices including any hedge impacts. Fuel prices remain volatile; however, the company has taken a number of actions to reduce energy consumption and fuel expense. The company is 52% and 45% hedged for the first quarter and full year, respectively. If fuel prices for 2008 remain at today’s level, fuel costs for the first quarter 2008 would be approximately $145 million, or $492 per metric ton. The corresponding figures for the full year 2008 would be approximately $595 million, or $484 per metric ton. A 10% change in the market price of fuel would result in changes of $8 million and $35 million in fuel costs for the first quarter and full year, respectively.

 

 

First Quarter 2008

Full Year 2008

Depreciation and Amortization

$123 to $128 Million

$525 to $545 Million

Interest Expense

$82 to $87 Million

$340 to $360 Million

Earnings Per Share

$0.30 to $0.35

$3.20 to $3.40

 

Based on these estimates, and assuming that fuel prices remain at today’s level, the company expects its first quarter 2008 earnings per share to be $0.30 to $0.35, and expects full year 2008 earnings per share to be $3.20 to $3.40.

 

As of December 31, 2007, liquidity was $1.4 billion, comprising $0.2 billion in cash and cash equivalents and $1.2 billion in available credit on the company’s unsecured revolving credit facility.

 

Based on current ship orders, projected capital expenditures for 2008, 2009, 2010, and 2011, are estimated to be $1.9 billion, $2.0 billion, $2.2 billion, and $1.0 billion, respectively. Projected capacity increases for the same four years are estimated at 5.1%, 9.3%, 11.4%, and 6.4%, respectively.

 

The company has scheduled a conference call at 10 a.m. Eastern Standard Time today to discuss its earnings. This call can be heard, either live or on a delayed basis, on the company’s investor relations web site at www.rclinvestor.com.

 

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