Norwegian Cruise Line Holdings Ltd (NCLH), the world’s third largest listed cruise shipping company has increased the amount of a note offering and decided to offer new shares as well, with part of the proceeds being used to refinance debt raised earlier.
“NCL Corporation Ltd (NCLC)., a subsidiary of Norwegian Cruise Line Holdings Ltd. announced today that it has priced its offering of $1,000 million aggregate principal amount of its 1.125% exchangeable senior notes due 2027, which were offered in a private offering that is exempt from the registration requirements of the Securities Act of 1933, as amended The aggregate principal amount of Exchangeable Notes to be issued was increased to $1,000 million from the previously announced $800 million,” the company said in a statement.
NCLC has granted 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 $150 million aggregate principal amount of Exchangeable Notes.
NCLC expects to use the net proceeds from the offering to repurchase up to $715,899,000 aggregate principal amount of its 6.00% Exchangeable Senior Notes due 2024 pursuant to privately negotiated agreements with a limited number of current holders, with remaining net proceeds from the offering being used for general corporate purposes.
Meanwhile, NCLH has announced that it has priced its registered direct offering of 46,858,854 ordinary shares to certain holders of NCL Corporation Ltd.’s a subsidiary of the company, 6.00% Exchangeable Senior Notes due 2024 at a price of $23.64 per share.
“The Offering is expected to close on November 19, 2021, subject to customary closing conditions. The Company expects to use the net proceeds from the Offering to redeem up to $236.25 million aggregate principal amount of NCLC’s 12.25% Senior Secured Notes due 2024 and up to $262.50 million aggregate principal amount of NCLC’s 10.250% Senior Secured Notes due 2026, including any accrued but unpaid interest thereon, to pay related premiums, fees and expenses and for general corporate purposes,” the company said.
