Royal Caribbean is the latest cruise behemoth to take out billions of dollars in credit to cope with coronavirus disruption, bringing the borrowing limit among the big three cruise majors to almost $7bn.

Richard Fain-led Royal Caribbean Cruises has entered into a $2.2bn, 364-day secured term loan facility to boost its liquidity amid uncertainty caused by Covid-19.

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This credit, backed by JP Morgan, Bank of America, BNP Paribas and Goldman Sachs, brings the New York-listed owner's liquidity to $3.6bn