WASHINGTON (dpa-AFX) - Norwegian Cruise Line Holdings Ltd. (NCLH) revealed on Tuesday the pricing of its registered direct offering of 3.32 million ordinary shares to certain holders of NCL Corp. Ltd, or NCLC, one of its subsidiaries, 1.125 percent Exchangeable Senior Notes due 2027 and 2.50 percent Exchangeable Senior Notes due 2027. The offering is priced at $24.53 per share.
The US-based cruise line company said that the equity offering will close on September 11, subject to customary closing conditions. Norwegian Cruise Line intends to use these proceeds to repurchase approximately $958 million of its 1.125 percent exchangeable senior notes that are due in 2027. The company added that it will pay about $1.01 billion for these notes.
Additionally, Norwegian Cruise Line will also repurchase about $449 million of its 2.50 percent exchangeable senior notes, also due in 2027, for roughly $480.5 million. In both cases, the company said that it will also pay any accrued and unpaid interest on the notes up to, but not including, the date of repurchase.
Norwegian Cruise Line said that on the completion of the Exchangeable Notes Repurchase, around $192.0 million in aggregate principal amount of NCLCs 1.125 percent Exchangeable Senior Notes due in 2027 and approximately $24.2 million in aggregate principal amount of NCLCs 2.50 percent Exchangeable Senior Notes due 2027 will be outstanding. The company added that at the end of these transactions, its share outstanding on a fully diluted basis will come down by around 38.1 million shares.
The company said that J.P. Morgan Securities LLC is acting as the placement agent for the Equity Offering.
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