$800 Million Fundraise for Norwegian Cruise Line Holdings

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Norwegian Cruise Line Holdings announced today that it is proposing to sell $800 million aggregate principal amount of its exchangeable senior notes due 2027 in a private offering that is exempt from the registration requirements of the Securities Act of 1933, as amended, according to a press release.

The company said it intends to grant the initial purchasers of the Exchangeable Notes an option to purchase, during a 13-day period beginning on, and including, the first day on which the Exchangeable Notes are issued, up to an additional $120 million aggregate principal amount of Exchangeable Notes.

The company expects to use the net proceeds from the offering to repurchase a portion of its 6.00% Exchangeable Senior Notes due 2024 pursuant to privately negotiated agreements with a limited number of current holders of such 2024 Exchangeable Notes, which agreements are conditioned upon, among other matters, the consummation of the offering of the Exchangeable Notes, and to pay related premiums, fees and expenses. NCLC intends to use the remaining net proceeds from the offering for general corporate purposes, according to a statement. 

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