NCLH Raising $790 Million

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Norwegian Cruise Line Holdings announced today that it is proposing to sell $790 million aggregate principal amount of its senior secured notes due 2029  in a private offering that is exempt from the registration requirements of the Securities Act of 1933, according to a press release.

The Notes and the related guarantees will be secured by first-priority interests in, among other things and subject to certain agreed security principles, fourteen of our vessels that will also secure the company’s senior secured credit facility and the 8.375% senior secured notes due 2028. The Notes will be guaranteed by our subsidiaries that own the vessels that will secure the Notes.

“We intend to use the net proceeds from the Notes Offering, together with cash on hand, to repay the term loans outstanding under our senior secured credit facility, including to pay any accrued and unpaid interest thereon, as well as related premiums, fees and expenses,” the company said in a statement.

 

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