Norwegian Cruise Line Holdings Ltd. (NCLH), the world’s third largest cruise shipping group, said it has refinanced its senior secured credit facility, with interest rate margins lowered and maturities extended.

The company amended its existing senior secured credit facility by repricing its $875 million revolving credit facility - also know as "revolver" - repricing and increasing its Term A loan facility to approximately $1.6 billion and extending the maturity dates for both to January 2024.

The Term Loan A was due to mature in 2021 and it had an amount of 1.5 billion before the increase, the 2017 annual report of NCLH shows.

"The proceeds from the increase in the Term A Loan were used to prepay the entire outstanding amount under the Company's existing Term B loan facility. The amendment also reduced the applicable margin under the Revolver and Term A Loan by 25 basis points. Both the Revolver and Term A Loan bear interest at LIBOR plus an applicable margin of between 1.00% and 1.75%, depending on the Company's leverage ratio," NCLH said in a statement.

"The refinancing of this facility further builds on our foundation for the future by strengthening our liquidity profile through more favorable rates and the extension of maturities," said Mark Kempa, executive vice president and chief financial officer of Norwegian Cruise Line Holdings Ltd.  “We remain focused on strengthening our balance sheet and remain on track to reach our targeted leverage range of 2.5 to 2.75 times by the end of 2020.”