---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-25-030889"
form_type: "8-K"
ticker: "NCLH"
cik: "0001513761"
company_name: "Norwegian Cruise Line Holdings Ltd."
filed_at: "2025-04-02T23:59:59+00:00"
generated_at: "2026-05-23T23:34:11.426835+00:00"
event_type: "debt"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# NCLH exchanges $285M of 5.375% notes for 0.875% notes due 2030 plus equity offering

## Summary
- Exchanged $285.4M of 5.375% exchangeable notes due 2025 for new 0.875% notes due 2030 plus $51.6M cash payment.
- Concurrent equity offering of 2.7M shares at $19.06 per share to fund cash payment; Barclays acting as placement agent.
- Transaction expected to close April 7, 2025; leverage neutral and reduces fully diluted shares by ~12.5M.
- Initial exchange price of new notes is $26.21/share, a 37.5% premium above equity offering price.
- About $164.6M of original 2025 notes remain outstanding after the exchange.

## SEC filing metadata
- accession: 0001104659-25-030889
- form_type: 8-K
- ticker: NCLH
- cik: 0001513761
- company_name: Norwegian Cruise Line Holdings Ltd.
- filed_at: 2025-04-02T23:59:59+00:00
- event_type: debt
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 3.02, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1513761/000110465925030889/0001104659-25-030889-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1513761/000110465925030889/tm2510871d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-25-030889
- JSON: https://secwatch.observer/filing/0001104659-25-030889.json
- Plain text: https://secwatch.observer/filing/0001104659-25-030889.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.