NCLH Announces $500 Million Note Offering

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Norwegian Cruise Line Holdings announced today that it is proposing to sell $500.0 million aggregate principal amount of its senior secured notes due 2028 in a private offering.

The Notes and the related guarantees will be secured by first-priority interests in, among other things and subject to certain agreed security principles, thirteen of the company’s vessels that also secure its senior secured credit facility.

The company said the Notes will be guaranteed by subsidiaries that own the vessels that will secure the Notes.

“We intend to use the net proceeds from the Notes Offering to repay a portion of the term loans outstanding under our senior secured credit facility that will become due in January 2024, including to pay any accrued and unpaid interest thereon, as well as related premiums, fees and expenses,” the company said in a filing.

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