---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-25-091308"
form_type: "8-K"
ticker: null
cik: "0001318742"
company_name: "NCL CORP Ltd."
filed_at: "2025-09-18T23:59:59+00:00"
generated_at: "2026-05-17T06:13:02.795479+00:00"
event_type: "debt"
sentiment: "positive"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# NCL Corp refinances $2.05B: issues 5.875%/6.25% notes; retires 8.125% 2029 notes

## Summary
- Issued $1.2B of 5.875% senior notes due 2031 and $850M of 6.250% notes due 2033; net proceeds ~$2.031B.
- Proceeds used to tender for/ redeem $225M 2026 notes (5.875%), $1B 2027 notes (5.875%), and $790M 2029 notes (8.125%).
- Tender results: 90.3% of 2027 notes and 97.5% of 2026 notes tendered; remaining to be redeemed at same consideration.
- Transaction is leverage-neutral; extends maturities and reduces interest cost by replacing 8.125% debt with lower coupons.

## SEC filing metadata
- accession: 0001104659-25-091308
- form_type: 8-K
- cik: 0001318742
- company_name: NCL CORP Ltd.
- filed_at: 2025-09-18T23:59:59+00:00
- event_type: debt
- sentiment: positive
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 1.01, 1.02, 2.03, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1318742/000110465925091308/0001104659-25-091308-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1318742/000110465925091308/tm2526381d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-25-091308
- JSON: https://secwatch.observer/filing/0001104659-25-091308.json
- Plain text: https://secwatch.observer/filing/0001104659-25-091308.txt

## Key facts
- Debt Financings
  NCL CORP Ltd. incurred senior notes of $850.0 million aggregate principal amount of 6.250% senior notes due 2033 with initial purchasers at 6.250% per year maturing September 15, 2033.
  - Instrument: senior notes
  - Principal: $850.0 million aggregate principal amount of 6.250% senior notes due 2033
  - Counterparty: initial purchasers
  - Rate: 6.250% per year
  - Maturity: September 15, 2033
  - Event: incurrence
  source text: The 2033 Notes were issued pursuant to an indenture, dated September 17, 2025 (the “2033 Notes Indenture”), between NCLC, as issuer, and U.S. Bank Trust Company, National Association, as trustee.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1318742/000110465925091308/0001104659-25-091308-index.htm
- Debt Financings
  NCL CORP Ltd. incurred senior notes of $1,200.0 million aggregate principal amount of 5.875% senior notes due 2031 with initial purchasers at 5.875% per year maturing January 15, 2031.
  - Instrument: senior notes
  - Principal: $1,200.0 million aggregate principal amount of 5.875% senior notes due 2031
  - Counterparty: initial purchasers
  - Rate: 5.875% per year
  - Maturity: January 15, 2031
  - Event: incurrence
  source text: The 2031 Notes were issued pursuant to an indenture, dated September 17, 2025 (the “2031 Notes Indenture”), between NCLC, as issuer, and U.S. Bank Trust Company, National Association, as trustee.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1318742/000110465925091308/0001104659-25-091308-index.htm

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