Norwegian Cruise Line proposes $500M senior secured notes due 2028; prelim FY22 rev $4.7-5.0B, net loss

Norwegian Cruise Line Holdings Ltd.

Proposes $500M aggregate principal of senior secured notes due 2028, secured by 13 vessels, to repay term loans due Jan 2024.
Preliminary FY2022 revenue expected $4.7-5.0B vs $0.6B in FY2021; expects net loss for full year and Q1 2023.
Cumulative booked position ~62% for full year 2023 at higher prices vs 2019; Q4 occupancy ~87%.
Amended credit facility extending $1.4B maturities to Jan 2025, obtained $1.5B additional debt capacity.
Liquidity as of Dec 31, 2022: ~$1B cash and $1B undrawn commitment.

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Norwegian Cruise Line Holdings Ltd. reported year ended December 31, 2022 results: revenue $4.7 billion to $5.0 billion.

Period: year ended December 31, 2022
Revenue: $4.7 billion to $5.0 billion
Result: preliminary results

Exact text from the filing

Based on the foregoing, our total revenues are currently expected to be in the range of approximately $ 4.7 billion to $ 5.0 billion for the year ended December 31, 2022, compared to $0.6 billion for the year ended December 31, 2021.

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Source: SEC EDGAR

accession 0001104659-23-004834

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