Norwegian Cruise Line, a subsidiary of Norwegian Cruise Line Holdings Ltd that was recently listed on Nasdaq in New York, says it has entered into an agreement to sell $300 million aggregate principal amount of 5.00% senior unsecured notes due February 2018 in connection with a private offering that is exempt from the registration requirements of the Securities Act of 1933, as amended (the "Securities Act").
The notes are to be issued at an issue price of 99.451%.
“The Company intends to use the net proceeds from the Offering, together with borrowings under its senior secured revolving credit facilities, to redeem its $450 million 11.75% senior secured notes due 2016,” Norwegian said in a statement.