debt
confidence high
sentiment positive
materiality 0.70
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.