Norwegian Cruise Line Subsidiary Upsizes Senior Notes Offering to $950 Million
MT Newswires Live
Yesterday
Norwegian Cruise Line's (NCLH) subsidiary, NCL Corporation Ltd., said late Wednesday it priced $950 million of 8.75% senior notes due 2031, up from the previously announced $750 million.
NCL is offering the notes only to qualified institutional buyers in the US under Rule 144A and to non-US investors under Regulation S, according to the company.
NCL said it plans to use the proceeds and cash on hand to redeem its 6.125% senior notes due 2028, repay about $376.3 million under its revolving credit facility, and prepay about $42.2 million of export-credit-backed debt, along with related interest, fees, and expenses.
The company said the offering is expected to close on Oct. 15, subject to customary conditions.
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