Norwegian Cruise Line prices USD 950.00 million notes as analysts lower targets
The financing subsidiary priced senior notes due 2031, while Citigroup and JPMorgan maintained their respective ratings but reduced price targets.
Norwegian Cruise Line’s financing subsidiary priced USD 950.00 million of senior notes due 2031 on September 30, 2026, according to the company. The notes carry an 8.75 percent coupon, and the offering was expected to close on October 15, 2026, subject to customary conditions.
The company said proceeds are intended to redeem 6.125 percent senior notes due 2028 and repay approximately USD 376.30 million under a revolving loan facility and USD 42.20 million of export-credit-backed borrowings.
Citigroup maintained its Buy rating on October 2, 2026, while lowering its price target from USD 22.00 to USD 19.00, according to the report. JPMorgan retained a Neutral rating on September 24, 2026, but reduced its target from USD 17.00 to USD 13.00, the report said.
Second-quarter 2026 revenue reached USD 2.64 billion, an increase of 4.90 percent year over year, while adjusted earnings per share totaled USD 0.48 against guidance of USD 0.38, according to ADVFN. The company expected third-quarter 2026 results to exceed its earlier guidance.
At Lang & Schwarz, the shares traded at EUR 13.57 at 10:35 a.m. CEST on October 5, 2026, up 0.97 percent from the previous close of EUR 13.44.