Norwegian Cruise Line Holdings' subsidiary, NCL Corporation Ltd. (NCLC), has closed a private offering of $950 million in senior notes. The proceeds are being used to refinance existing debt, including the full redemption of its 2028 senior notes and repayment of other credit facilities. Concurrently, NCLC amended its credit agreement to increase the size of its revolving loan facility.
Key Details
- New Debt Issuance: Closed a private offering of $950.0 million in aggregate principal amount of 8.750% senior notes, which will mature on October 15, 2031.
- Use of Proceeds: Net proceeds of approximately $941.7 million, along with cash on hand, were used to redeem all outstanding 6.125% senior notes due 2028 and to repay approximately $418.5 million of other outstanding borrowings.
- Credit Facility Amendment: Increased the aggregate lender commitments under its senior secured revolving loan facility from approximately $2.49 billion to $2.80 billion, extending its borrowing capacity.