Scenic

In March 2023, PCP provided a EUR 75 million ESG-linked loan facility to Scenic Cruises (“Scenic”), a leading luxury cruise operator headquartered in Switzerland and wholly owned by its founder. Scenic offers high-end river and ocean cruises through the famous Scenic and Emerald brands, combining the experience of a luxury hotel stay with nature explorations. The river cruises primarily travel along the iconic riverways of Europe while the ocean cruises have itineraries that span the globe. The PCP facility will support the continued growth of the business, including adding another ocean-going luxury yacht to the fleet. The PCP financing is linked to a clearly defined sustainability agenda that assists Scenic on its journey to become best-in-class and its ambition to reach carbon neutrality for its fleet. Key investment highlights appreciated by PCP include Scenic’s leading market position in the luxury sector, the resilience of the high-end customer group to economic cycles, and the strong visibility on revenue thanks to advance bookings by customers. David Ullenius, Managing Director at PCP: “We are proud to support a passionate entrepreneur to further develop his company in a growing industry where PCP has strong insights and experience. In addition to the attractive business and market characteristics, the PCP facility benefits from a structure with solid asset backing.” www.emeraldcruises.co.uk March, 2023