NCL Corporation Ltd. a subsidiary of Norwegian Cruise Line Holdings Ltd. has announced that it is proposing to sell $800 million aggregate principal amount of its exchangeable senior notes due 2027 in a private offering that is exempt from the registration requirements of the Securities Act of 1933, as amended.

NCLC intends to grant the initial purchasers of the Exchangeable Notes an option to purchase, during a 13-day period beginning on, and including, the first day on which the Exchangeable Notes are issued, up to an additional $120 million aggregate principal amount of Exchangeable Notes.

“The Exchangeable Notes will be general senior unsecured obligations of NCLC and guaranteed by NCLH. Holders may exchange all or a portion of the Exchangeable Notes at the holder’s option (i) at any time prior to the close of business on the business day immediately preceding August 15, 2026, subject to the satisfaction of certain conditions and during certain periods, and (ii) on or after August 15, 2026 until the close of business on the business day immediately preceding the maturity date, regardless of whether such conditions have been met<’ the company said in a statement.