Lindblad Raising $340 Million

Lindblad Expeditions

Lindblad Expeditions today announced that it intends to offer $340,000,000 aggregate principal amount of senior secured notes due 2027, subject to market and customary conditions.

According to a press release, the notes will be senior secured obligations of the Issuer and will be guaranteed by Lindblad and certain of Lindblad's subsidiaries and will be secured, subject to permitted liens and certain other exceptions, by first-priority liens on substantially all the assets of the Issuer and the Note Guarantors.

Lindblad intends to use the net proceeds from the proposed offering to prepay in full all outstanding borrowings under its existing term loan, including the Main Street Loan, and revolving credit facility, to pay any related premiums and to terminate in full its existing credit agreement and the commitments thereunder, the company said.

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