secwatch.observer — SEC 8-K summary
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Issuer:     Norwegian Cruise Line Holdings Ltd. (NCLH)
CIK:        0001513761
Form:       8-K
Filed at:   2022-12-09T23:59:59+00:00
Accession:  0001104659-22-125885
Event type: debt
Sentiment:  neutral
Materiality: 0.60
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Norwegian Cruise Line extends $1.4B credit facility maturity to January 2025
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- Extended ~$1.4B of operating credit facility by one year to January 2025, with springing maturity if liquidity test fails.
- Converted $631.8M term A-2 loans into term A-3 loans; $68M deferred term A-1 into deferred A-2; $591M revolver A into revolver C.
- Issued $148.7M new term A-3 loans to repay deferred term A loans, deferred term A-1 loans, and part of term A-1 loans.
- Interest: term A-3 at SOFR+1.00%-2.25%; deferred A-2 at SOFR+2.75%; replaced LIBOR with Term SOFR. New financial covenants: max debt-to-cap ratio steps down to 0.87x; min liquidity $250M.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1513761/000110465922125885/0001104659-22-125885-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1513761/000110465922125885/tm2232330d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-22-125885

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