Financing ·
NCLH raises $950M via 8.75% senior notes due 2031 to redeem 2028 debt and repay revolving loans
NCLHNorwegian Cruise Line Holdings Ltd.
Norwegian Cruise Line Holdings Ltd. subsidiary NCL Corporation closed a private offering of $950.0 million aggregate principal amount of 8.750% senior notes due October 15, 2031. Net proceeds were approximately $941.7 million. The company used the funds to redeem all outstanding 6.125% senior notes due 2028, repay approximately $376.3 million of borrowings under its senior secured revolving loan facility, and prepay approximately $42.2 million of export-credit backed financing facilities. Concurrently, NCLC entered into a third amendment to its credit agreement, increasing the revolving facility's aggregate commitments from $2.5 billion to $2.8 billion. The company operates global cruise lines including Norwegian Cruise Line, Oceania Cruises, and Regent Seven Seas Cruises.