debt
confidence high
sentiment neutral
materiality 0.70
NCLH subsidiary proposes $790M senior secured notes due 2029 to refinance term loans
Norwegian Cruise Line Holdings Ltd.
- $790M aggregate principal of senior secured notes due 2029, secured by 14 vessels.
- Proceeds plus cash on hand to repay term loans under senior secured credit facility.
- Offering conditioned on amendments to senior secured credit facility.
- Operational update: strong demand; impacts from higher fuel, Maui wildfires (3% Q4 capacity), Israel conflict (6% Q4 capacity cancelled).
- Fuel hedge as of Oct 5: 45% of 2023, 35% of 2024, 5% of 2025 consumption hedged.