Norwegian Cruise Line Holdings Ltd. (NCLH): debt financing — NCLH exchanges $353.9M of 5.375% notes for 0.875% notes due 2030; issues equity for cash payment

Norwegian Cruise Line Holdings Ltd.

$353.9M of 5.375% exchangeable notes due 2025 exchanged for equal principal of 0.875% notes due 2030 plus $64M cash.
New 0.875% notes mature Apr 15, 2030, exchangeable into NCLH shares at $26.21 (37.5% premium over equity offering price).
Company issued 3.36M shares at $19.06 in two direct offerings, raising ~$64M to fund cash portion.
Barclays Capital acted as exclusive placement agent; transaction reduces interest cost and extends debt maturity.

item 1.01 item 2.03 item 3.02 item 8.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

Norwegian Cruise Line Holdings Ltd. incurred convertible notes of $353,876,000 in aggregate principal amount with U.S. Bank Trust Company, National Association at 0.875% per year maturing April 15, 2030.

Instrument: convertible notes
Principal: $353,876,000 in aggregate principal amount
Counterparty: U.S. Bank Trust Company, National Association
Rate: 0.875% per year
Maturity: April 15, 2030
Event: incurrence

Exact text from the filing

On April 7, 2025, NCL Corporation Ltd. (“NCLC”), a subsidiary of Norwegian Cruise Line Holdings Ltd. (the “Company”), closed its previously announced exchanges (collectively, the “Exchange”) of $353,876,000 in aggregate principal amount of NCLC’s 5.375% Exchangeable Senior Notes due 2025 (the “2025 Notes”) held by certain institutional investors (collectively, the “Holders”) for (i) $353,876,000 in aggregate principal amount of NCLC’s newly issued 0.875% Exchangeable Senior Notes due 2030 (the “2030 Notes”)

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7 debt financings filed in the last 30 days. Browse all debt financings →

Norwegian Cruise Line Holdings Ltd. filing history →

Source: SEC EDGAR

accession 0001104659-25-032641

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