--- schema_version: "secwatch.filing_event.v1" accession: "0001104659-23-055049" form_type: "8-K" ticker: "LIND" cik: "0001512499" company_name: "LINDBLAD EXPEDITIONS HOLDINGS, INC." filed_at: "2023-05-02T23:59:59+00:00" generated_at: "2026-06-16T03:21:13.119933+00:00" event_type: "debt" sentiment: "neutral" materiality_score: 0.75 calibrated_materiality_score: 0.75 confidence: "high" source: SEC EDGAR --- # Lindblad Expeditions issues $275M of 9% Senior Secured Notes due 2028, repays export credit facilities ## Summary - $275M aggregate principal of 9.000% Senior Secured Notes due 2028 issued on May 2, 2023. - Notes mature May 15, 2028; interest payable semiannually starting Nov 15, 2023. - Net proceeds used to prepay in full outstanding borrowings under existing Export Credit Facilities. - Notes are guaranteed on a senior secured basis by subsidiaries owning vessels National Geographic Endurance and Resolution. - Redemption options: make-whole prior to May 15, 2025; on/after at specified prices; up to 40% at 109% with equity offering proceeds. ## SEC filing metadata - accession: 0001104659-23-055049 - form_type: 8-K - ticker: LIND - cik: 0001512499 - company_name: LINDBLAD EXPEDITIONS HOLDINGS, INC. - filed_at: 2023-05-02T23:59:59+00:00 - event_type: debt - sentiment: neutral - materiality_score: 0.75 - calibrated_materiality_score: 0.75 - confidence: high - sec_items: 1.01, 1.02, 2.03, 9.01 - EDGAR index: https://www.sec.gov/Archives/edgar/data/1512499/000110465923055049/0001104659-23-055049-index.htm - EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1512499/000110465923055049/tm2314363d1_8k.htm ## Machine-readable alternates - HTML: https://secwatch.observer/filing/0001104659-23-055049 - JSON: https://secwatch.observer/filing/0001104659-23-055049.json - Plain text: https://secwatch.observer/filing/0001104659-23-055049.txt ## Key facts - Debt Financings LINDBLAD EXPEDITIONS HOLDINGS, INC. incurred senior notes of $275,000,000 aggregate principal amount with Wilmington Trust, National Association at 9.000% per year maturing 2028-05-15. - Instrument: senior notes - Principal: $275,000,000 aggregate principal amount - Counterparty: Wilmington Trust, National Association - Rate: 9.000% per year - Maturity: 2028-05-15 - Event: incurrence source text: On May 2, 2023, Lindblad Expeditions Holdings, Inc. (the “Issuer”), entered into an Indenture, dated as of May 2, 2023 (the “Indenture”), among the Issuer, each of the guarantors named therein and Wilmington Trust, National Association, as trustee and collateral agent, governing the terms of the Issuer’s $275,000,000 aggregate principal amount of 9.000% Senior Secured Notes due 2028 (the “Notes”). evidence_url: https://www.sec.gov/Archives/edgar/data/1512499/000110465923055049/0001104659-23-055049-index.htm - Material Agreements LINDBLAD EXPEDITIONS HOLDINGS, INC. terminated Senior Secured Credit Agreement (Second Export Credit Facility) with Citibank, N.A. and Eksportkreditt Norge AS (together with Garantiinstituttet, now known as Eksfin, Export Finance Norway) (effective 2023-05-02). - Action: termination - Agreement: credit facility - Counterparty: Citibank, N.A. and Eksportkreditt Norge AS (together with Garantiinstituttet, now known as Eksfin, Export Finance Norway) - Effective: 2023-05-02 source text: (ii) that certain Senior Secured Credit Agreement, dated April 8, 2019 (together with the First Export Credit Facility, the “Export Credit Facilities”), among the Issuer and Lindblad Bluewater II Limited with Citibank, N.A. and Eksportkreditt Norge AS (together with Garantiinstituttet, now known as Eksfin, Export Finance Norway). evidence_url: https://www.sec.gov/Archives/edgar/data/1512499/000110465923055049/0001104659-23-055049-index.htm - Material Agreements LINDBLAD EXPEDITIONS HOLDINGS, INC. entered into Indenture with Wilmington Trust, National Association valued at $275,000,000 aggregate principal amount of 9.000% Senior Secured Notes due 2028 (effective 2023-05-02). - Action: entry - Agreement: notes offering - Counterparty: Wilmington Trust, National Association - Value: $275,000,000 aggregate principal amount of 9.000% Senior Secured Notes due 2028 - Effective: 2023-05-02 source text: On May 2, 2023, Lindblad Expeditions Holdings, Inc. (the “Issuer”), entered into an Indenture, dated as of May 2, 2023 (the “Indenture”), among the Issuer, each of the guarantors named therein and Wilmington Trust, National Association, as trustee and collateral agent, governing the terms of the Issuer’s $275,000,000 aggregate principal amount of 9.000% Senior Secured Notes due 2028 (the “Notes”). evidence_url: https://www.sec.gov/Archives/edgar/data/1512499/000110465923055049/0001104659-23-055049-index.htm - Material Agreements LINDBLAD EXPEDITIONS HOLDINGS, INC. terminated Senior Secured Credit Agreement (First Export Credit Facility) with Citibank, N.A. and Eksportkreditt Norge AS (together with Garantiinstituttet, now known as Eksfin, Export Finance Norway) (effective 2023-05-02). - Action: termination - Agreement: credit facility - Counterparty: Citibank, N.A. and Eksportkreditt Norge AS (together with Garantiinstituttet, now known as Eksfin, Export Finance Norway) - Effective: 2023-05-02 source text: on the Closing Date, the Issuer prepaid in full all obligations under, and terminated, (i) that certain Senior Secured Credit Agreement, dated January 8, 2018 (the “First Export Credit Facility”), among the Issuer and LEX Endurance Ltd. with Citibank, N.A. and Eksportkreditt Norge AS (together with Garantiinstituttet, now known as Eksfin, Export Finance Norway) evidence_url: https://www.sec.gov/Archives/edgar/data/1512499/000110465923055049/0001104659-23-055049-index.htm This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.