NCL Corporation Ltd., a subsidiary of Norwegian Cruise Line Holdings Ltd. (NCLH), has announced that it has priced an offering of $750 million of senior secured notes, $400 million of exchangeable notes and plus some $300 million of new equity.

A public offering of 16,666,667 ordinary shares were sold at a price to the public of $15.00 per share. However, the underwriters have notified the Company of their intent to purchase an additional 2,500,000 ordinary shares pursuant to the full exercise of their option to acquire additional ordinary shares. As a result, NCL Corporation will issue an aggregate amount of 19,166,667 ordinary shares in the offering, including the option shares.

In addition, the company has priced $750 million aggregate principal amount of its 10.250% senior secured notes due 2026, which were offered in a private offering.

The amount was increased to $750 million from the previously announced $675 million. “The Secured Notes and certain of the related guarantees will be secured by a first-priority interest in, among other things and subject to certain agreed security principles, one of our vessels,” NCLH said.

NCL Corporation also priced $400 million aggregate principal amount of its 5.375% exchangeable senior notes due 2025 which were also offered in a private offering. The aggregate principal amount of Exchangeable Notes to be issued was increased to $400 million from the previously announced $250 million.

NCLC has granted the initial purchasers of the Exchangeable Notes an option to purchase, on or before August 2, 2020, up to an additional $60 million aggregate principal amount of Exchangeable Notes, NCLH said.