Norwegian Cruise Line (NCLH) and its NCL unit said Wednesday that NCL has agreed to exchange about $285.4 million of its 5.375% exchangeable senior notes due 2025.
Under the note exchange agreements with certain holders, the company said NCL will issue about $285.4 million of 0.875% exchangeable senior notes due 2030 and pay about $51.6 million in cash, along with accrued and unpaid interest on the 2025 notes.
The company said it launched a registered direct offering of roughly 2.7 million shares at $19.06 apiece, with the proceeds to be used to make the cash payment.
Norwegian Cruise Line said it expects to close the transactions on or about April 7, after which about $164.6 million of the 2025 notes will remain outstanding.
Price: 18.99, Change: -0.07, Percent Change: -0.37
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.