NCL Corporation Ltd., a subsidiary of Norwegian Cruise Line Holdings Ltd., said it has closed its previously announced private offerings of three sets of notes that it would use to buy back debt with higher rate of interest.

These comprise $1.0 billion aggregate 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.

“The offering of the Notes closed on February 18, 2022 and the offering of the Exchangeable Notes closed on February 15, 2022. NCLC used the net proceeds from the offerings of the Notes and the Exchangeable Notes to redeem all of the outstanding 12.25% Senior Secured Notes due 2024 and 10.250% Senior Secured Notes due 2026 and intends to use the remainder of such proceeds to make principal payments on debt maturing in the short-term, including, in each case, to pay any accrued and unpaid interest thereon, as well as related premiums, fees and expenses,” the com[any said in a statement.