TUI to raise €1.1 billion through underwritten equity issue
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- Written by Kari Reinikainen Kari Reinikainen
- Category: More News More News
- Published: 06 October 2021 06 October 2021
TUI AG, the German tour operator that has a significant foothold in the cruise industry particularly in Germany and the UK, said that it would strengthen its balance sheet through a fully underwritten €1.1 billion equity issue.
Subscriptions right would be offered to investors who can buy 21 new shares in the company for each 10 ones they currently hold at a subscription price of €2.15 per share.
"TUI’s largest shareholder, Unifirm Limited, with a 32.0% holding in the company, has undertaken to exercise all Subscription Rights attributable to its shareholding at the Subscription Price and to subscribe directly for New Shares represented by such Subscription Rights,” TUI said in a statement.
The remainder of the capital increase is secured through an underwriting by a banking syndicate, subject to terms and conditions in line with market practice for similar transactions.
“The Company intends to use the net proceeds of the Offering to reduce interest costs and net debt by reducing current drawings (i) first under the KfW Facility, under which as at 4 October 2021 the Company had drawn €375.0 million, and (ii) second under the Cash Facility, under which as at 4 October 2021 the Company had drawn €1,486.5 million,” the company said.
Carnival to refinance portion of notes due 2023 with new loan
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- Written by Kari Reinikainen Kari Reinikainen
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- Published: 06 October 2021 06 October 2021
Carnival Corporation & plc , the world’s largest cruise shipping group, said its US listed and Panama domiciled Carnival Corporation unit intends to commence the marketing of a first-priority senior secured term loan facility with an original principal amount of $1.5 billion maturing in 2028.
"The Company intends to use the proceeds from the Term Loan Facility to redeem a portion of the Company’s 11.500% First Priority Senior Secured Notes due 2023 (the “2023 Notes”), including related accrued interest, fees and expenses. This disclosure does not constitute a notice of redemption with respect to the 2023 Notes,” Carnival said in a statement.
Carnival has previously refinanced expensive debt issued at the start of the Covid-19 pandemic with new loans at a lower rate of interest.
Meyer Turku targets carbon neutrality by 2030
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- Written by Kari Reinikainen Kari Reinikainen
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- Published: 04 October 2021 04 October 2021
Meyer Turku, the Finnish cruise ship builder in the Meyer Group, said it would target carbon neutrality by 2030.
The shipbuilder also plans to present a carbon neutral ship concept that could also be built by 2025.
Deputy Managing Director Tapani Pulli described the targets as challenging, but said in a statement that achieving these targets would also strengthen the company’s ability to compete for orders. It also encourages companies in its supply chain to follow in its wake to reduce their carbon footprint.
MSC Magnifica to operate Northern Europe winter cruises from five ports
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- Written by Kari Reinikainen Kari Reinikainen
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- Published: 04 October 2021 04 October 2021
MSC Magnifica will operate a series of winter cruises from five ports in northern Europe in a first for the company, it said in a statement.
Starting from 14 November 2021, MSC Magnifica will offer seven night cruises calling at Hamburg, Germany; IJmuiden/Amsterdam, Netherlands; Zeebrugge for Bruges and Brussels,Belgium; Le Havre for Paris, France; Southampton for London,UK.
“With extended stays in port of up to 12 hours, guests can really make the most of their time ashore. Embarkation will be possible in each port, ensuring that there are plenty of convenient connections close for guests,” the company said in a statement.
Seabourn names second expedition ship Seabourn Pursuit
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- Written by Teijo Niemelä Teijo Niemelä
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- Published: 01 October 2021 01 October 2021
Seabourn, the ultra-luxury ocean and expedition cruise line, announced earlier this week that it will name its second new ultra-luxury purpose-built expedition ship Seabourn Pursuit, which is reflective of the passion exhibited by expedition travelers to seek out and explore natural wonders and destinations through immersive recreational activities around the world.
Construction for Seabourn Pursuit began in fall 2020 during a ceremony in San Giorgo di Nogare, Italy, and the build process is well underway. The ship is scheduled for delivery in February 2023, with its sister ship, Seabourn Venture, slated for delivery in March 2022.
“The name Seabourn Pursuit is truly fitting for a ship envisioned and designed to take expedition travelers into those places where they can see vast landscapes, diverse wildlife and remote regions of the world that may have been on their bucket list for years,” said Josh Leibowitz, president of Seabourn. “Seabourn Pursuit will navigate the most unexplored parts of the world in the highest level of comfort, safety and environmental protection available for the luxury traveler. We are defining an entirely new category of expedition travel with Seabourn Pursuit and its sister ship, Seabourn Venture.”
After delivery, Seabourn Pursuit heads north for its first season of exploration, with an inaugural “Fire and Ice” voyage scheduled for April 4, 2023, departing roundtrip from Reykjavik, Iceland. The itinerary, which winds its way along the coast of Greenland and Iceland, will be filled with snow swept landscapes – the “Ice” – and a late night in Akureyri, a wonderland that provides access to magnificent waterfalls (Goðafoss), hot springs and the lava fields of Dimmuborgir and Leirhnjukur – the “Fire”.
The ship then continues onward by exploring the waters and landscapes of Greenland, Iceland and Norway throughout the spring and early summer, in some instances retracing the path of the Vikings to the frontier town of Tromsø while carving its way through the inside passage of the Norwegian fjords along the way. A sure highlight for August 2023 is the ship’s Northwest Passage journey through some of the most remote areas in the Northern Hemisphere from Kangerlussuaq, Greenland to Nome, Alaska. Itineraries for the Seabourn Pursuit inaugural season are set to open for sale in mid-December 2021.
Both Seabourn Pursuit and sister ship Seabourn Venture are designed and built for diverse environments to PC6 Polar Class standards and include modern hardware and technology that will extend the ships’ global deployment and capabilities. Each will carry two custom-built submarines, 24 Zodiacs, kayaks, and a 26-person expert expedition team whose role is to engage guests throughout each voyage.
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