Viking Cruises today announced that it has completed a private offering of $550 million aggregate principal amount of 5.875%, in a prepared statement issued to the media.
Viking intends to use the net proceeds of the New Notes, together with available cash, to fund its previously announced cash tender offer for any and all of its outstanding 8.50% Senior Notes due 2022.
Viking also announced today the expiration and settlement of its previously announced cash tender offer for any and all of its outstanding 2022 Notes. The tender offer was made pursuant to the Offer to Purchase dated September 12, 2017 and a related Notice of Guaranteed Delivery.
The tender offer expired at 5:00 p.m., New York City time, on September 19, 2017.
An aggregate principal amount of $385,584,000 of 2022 Notes, representing approximately 73.4% of the aggregate principal amount of 2022 Notes outstanding, were validly tendered and not withdrawn in the tender offer, which amount excludes $19,000.00 of aggregate principal amount of 2022 Notes that remain subject to guaranteed delivery procedures.
Viking accepted all 2022 Notes validly tendered and not withdrawn in the tender offer on September 20, 2017. Viking paid cash consideration of $1,047.70 per $1,000 principal amount of 2022 Notes tendered in the tender offer, plus accrued and unpaid interest from and including the most recent interest payment date, up to, but excluding, the settlement date for the tender offer.
In addition, Viking plans to deliver a notice of redemption for any 2022 Notes that were not tendered and accepted for purchase pursuant to the tender offer. Any redemption would be made solely pursuant to the notice of redemption delivered pursuant to the indenture governing the 2022 Notes and the information in this press release is qualified in its entirety by such notice.