Norwegian Cruise Line unit increases senior notes offering to $950 million
NCL Corporation priced the 8.75% notes due 2031 as its parent lifted its third-quarter outlook on stronger-than-expected revenue.
Norwegian Cruise Line Holdings subsidiary NCL Corporation Ltd. has priced a private offering of $950 million in 8.75% senior notes due 2031. The transaction was increased from the previously announced $750 million and is expected to close Oct. 15, subject to customary conditions.
The company intends to use the proceeds, together with cash on hand, to redeem its outstanding 6.125% senior notes due 2028, repay borrowings under its senior secured revolving loan facility and prepay approximately $42.2 million under export credit-backed financing facilities. The planned uses also include related interest, fees and expenses.
Norwegian Cruise Line Holdings also said it now expects its third-quarter results to surpass its previous guidance, attributing the revision to better-than-expected revenue performance. The company did not issue specific updated figures for the quarter. It reaffirmed its full-year 2026 earnings-per-share guidance of approximately $1.50.
