NCLH Upsizes Fundraising at 8.375%

Norwegian Bliss

Norwegian Cruise Line Holdings announced today that it has priced $600 million aggregate principal amount of its 8.375% senior secured notes due 2028, which were offered in a private offering.

The aggregate principal amount of Notes to be issued was increased to $600 million from the previously announced $500 million.

The offering of the Notes is expected to close on February 2, 2023, subject to customary closing conditions, the company said.

“We intend to use the net proceeds from the Notes Offering to repay 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,” read a SEC filing.

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 senior secured credit facility.

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