Norwegian Announces a $500m Public Offering

On the heels of Royal Caribbean restructuring some of its financial commitments with its lender, we are now seeing Norwegian Cruise Line Holdings announce a public offering of $500 million that will be used to repay a portion of their long-term loans.

This will be a senior secured note and the aggregate principal will be due in 2028.  The guarantee will come in the form of agreed security principles and vessels from its subsidiaries.

In a statement, the company said, “We intend to use the net proceeds from the Notes Offering to repay a portion of 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.”

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