Norwegian Cruise Line Holdings shares lag rivals despite record bookings
Debt levels and exposure to higher fuel costs were cited as key concerns as the company pursued refinancing.
Norwegian Cruise Line Holdings shares have fallen 32% this year, trailing Carnival and Royal Caribbean despite strong demand and record bookings. The decline was attributed mainly to Norwegian’s heavier debt load and sensitivity to rising fuel costs, which investors view as a balance-sheet risk.
The company announced a $750 million refinancing intended to reduce higher-interest debt and ease financial pressure. Norwegian was valued at a market capitalization of $7.12 billion and an enterprise value of $21.94 billion.
Trading data placed Norwegian shares at $15.22 following a one-day drop of 1.84%. A trading platform reported 98% buy interest. Carnival’s market capitalization was listed at $35.74 billion, while Royal Caribbean’s was reported at $77.23 billion.
