NCLH exchanges $68.5M of 5.375% notes for 0.875% 2030 notes plus cash via equity offering

Norwegian Cruise Line Holdings Ltd.

NCL Corp. exchanges $68.5M in 5.375% Exchangeable Senior Notes due 2025 for $68.5M of new 0.875% notes due 2030 and $12.4M cash.
Concurrent registered direct offering of 649,565 shares at $19.06/share to fund the cash payment.
Transactions expected to close April 7; reduce fully diluted shares outstanding by ~15.5 million.
Approximately $96.1M of the 2025 notes remain outstanding; transactions are leverage neutral.

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