NCL Corporation Ltd. upsized and priced $1,300.0 million of Exchangeable Notes due 2030.
Initial exchange rate set at 29.1189 ordinary shares per $1,000 principal amount of Exchangeable Notes.
Proceeds to be used for repurchasing existing Exchangeable Senior Notes due 2027.
Upsizing and Pricing
Aggregate principal amount increased to $1,300.0 million from $1,200.0 million.
Exchangeable Notes Offering
Initial exchange rate provides a premium of 40.0% above the offering price in the Equity Offering.
Use of Proceeds
Net proceeds to be used for repurchasing existing Exchangeable Senior Notes due 2027.
Offering Details
Offered only to qualified institutional buyers in reliance on Rule 144A under the Securities Act.
- The Exchangeable Notes Offering will help NCLC in adjusting its debt structure and leverage position.
- The Repurchases of existing Exchangeable Senior Notes will impact NCLH's shares outstanding and leverage profile.
NCL Corporation Ltd.'s strategic move in upsizing and pricing the Exchangeable Notes demonstrates a proactive approach towards optimizing its capital structure and financial position in the market.