Oaktree’s Yacht Cruise Line’s Debt Hits Choppy Waters: The Brink

Welcome to The Brink. I’m Edward Clark, a reporter in London, where I’ve been following the fortunes of an Oaktree-backed ultra-luxury cruise line The Ritz-Carlton Yacht Collection. We also have the latest on payments firm Worldline, department store Saks and satellite company EchoStar. Follow this link to subscribe. Send us feedback and tips at debtnews@bloomberg.net.

Rough Waters

Investors who crowded aboard The Ritz-Carlton Yacht Collection’s inaugural bond offering a year ago were likely hoping for a smoother ride than the one they’ve had this month.

The $300 million of senior secured notes issued by the ultra-luxury cruise line ...