Norwegian Cruise Line Holdings Ltd (NCLH), the world’s third largest cruise shipping group, has priced three offerings of notes and said that bookings had started to recover from the Omicron variant of the Covid-19 virus in recent weeks.

The company announced that it had priced $1,000.0 million principal amount of its 5.875% senior secured notes due 2027, $600.0 million aggregate principal amount of its 7.750% senior unsecured notes due 2029 and $435.0 million aggregate principal amount of its 2.50% exchangeable senior notes due 2027, each of which were offered in private offerings that are exempt from the registration requirements of the Securities Act of 1933, as amended.

NCLH said in a separate statement that in recent weeks, net booking volumes have continued to improve sequentially. “As a result of the impacts from Omicron, as of February 6, 2022, the Company’s cumulative booked position for the first half of 2022 is below the extraordinarily strong levels of 2019 while the second half, when the full fleet is expected to be back in operation, is in line with the comparable 2019 period,” the company said.. 

It noted that concurrently, pricing for the first half, second half and full year 2022 are above the record levels for the same time in 2019, even when including the dilutive impact of future cruise credits. 

“Booking trends for 2023 demonstrate continued strong demand for sailings in the medium and longer term with booked position and pricing meaningfully higher and at record levels when compared to 2019,” NCLH said.

While we cannot estimate the impact of the Covid-19 pandemic on our business, financial condition or near- or longer-term financial or operational results with certainty, we will report a net loss for the fourth quarter and full year ending December 31, 2021 and expect to report a net loss until we are able to resume regular voyages,” NCLH stated.