Item 8.01. Other Events
In
addition to the amendment referred to above, between April 15, 2020 and April 23, 2020, we also amended the export-credit backed
loan facilities incurred to finance Celebrity Eclipse, Celebrity Equinox, Celebrity Solstice and Celebrity Silhouette
in order to incorporate the benefits of the Debt Holiday. Across the Quantum facility described above and these four
facilities, the Debt Holiday amendments will generate approximately $250 million of incremental liquidity through April
2021. This is in addition to the $200 million of incremental liquidity previously disclosed realized in connection with the implementation
of the Debt Holiday across certain other Hermes-backed facilities.
As previously disclosed, we continue to
seek to incorporate the Debt Holiday initiative across the remainder of our Hermes-backed facilities.
Certain
statements in this document relating to, among other things, our future performance constitutes forward-looking statements under
the Private Securities Litigation Reform Act of 1995. These statements include, but are not limited to: statements regarding revenues,
costs and financial results for 2020 and beyond. Words such as “anticipate,” “believe,” “could,”
“driving,” “estimate,” “expect,” “goal,” “intend,” “may,”
“plan,” “project,” “seek,” “should,” “will,” “would,”
and similar expressions are intended to help identify forward-looking statements. Forward-looking statements reflect management’s
current expectations, are based on judgments, are inherently uncertain and are subject to risks, uncertainties and other factors,
which could cause our actual results, performance or achievements to differ materially from the future results, performance or
achievements expressed or implied in those forward-looking statements. Examples of these risks, uncertainties and other factors
include, but are not limited to the following: the impact of the economic and geopolitical environment on key aspects of our business,
such as the demand for cruises, passenger spending, and operating costs; our ability to obtain sufficient financing, capital or
revenues to satisfy liquidity needs, capital expenditures, debt repayments and other financing needs; the effectiveness of the
actions we have taken to improve and address our liquidity needs; incidents or adverse publicity concerning our ships, port facilities,
land destinations and/or passengers or the cruise vacation industry in general; concerns over safety, health and security of guests
and crew; the impact of the global incidence and spread of COVID-19, which has had and will continue to have a material negative
impact on our operating results and liquidity, or other contagious illnesses on economic conditions and the travel industry in
general and the financial position and operating results of our company in particular, such as: the current and potential additional
governmental and self-imposed travel restrictions, the current and potential extension of the suspension of cruises and new additional
suspensions, guest cancellations, an inability to source our crew or our provisions and supplies from certain places, the incurrence
of COVID-19 and other contagious diseases on our ships and an increase in concern about the risk of illness on our ships or when
traveling to or from our ships, all of which reduces demand; unavailability of ports of call; growing anti-tourism sentiments
and environmental concerns; changes in US foreign travel policy; the uncertainties of conducting business internationally and
expanding into new markets and new ventures; our ability to recruit, develop and retain high quality personnel; changes in operating
and financing costs; our indebtedness and restrictions in the agreements governing our indebtedness that limit our flexibility
in operating our business, including the significant portion of assets that are collateral under these agreements; the impact
of foreign currency exchange rates, interest rate and fuel price fluctuations; vacation industry competition and changes
in industry capacity and overcapacity; the risks and costs associated with protecting our systems and maintaining integrity and
security of our business information, as well as personal data of our guests, employees and others; the impact of new or
changing legislation and regulations or governmental orders on our business; pending or threatened litigation, investigations
and enforcement actions; the effects of weather, natural disasters and seasonality on our business; emergency ship repairs, including
the related lost revenue; the impact of issues at shipyards, including ship delivery delays, ship cancellations or ship construction
cost increases; shipyard unavailability; and the unavailability or cost of air service.
More information about factors that could
affect our operating results is included under the captions “Risk Factors” and “Management’s Discussion
and Analysis of Financial Condition and Results of Operations” in our most recent annual report on Form 10-K and our recent
quarterly reports on Form 10-Q, copies of which may be obtained by visiting our Investor Relations website at www.rclinvestor.com or
the SEC’s website at www.sec.gov. Undue reliance should not be placed on the forward-looking statements in this
document, which are based on information available to us on the date hereof. We undertake no obligation to publicly update or revise
any forward-looking statements, whether as a result of new information, future events or otherwise.