Norwegian Cruise Line's NCL Unit to Exchange $68.5 Million of 2025 Senior Notes

, MT Newswires -  9:58 AM ET 4/3/2025 Company News

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09:58 AM EDT, 04/03/2025 (MT Newswires) -- Norwegian Cruise Line ( NCLH ) and its NCL subsidiary said Thursday that NCL entered agreements to exchange around $68.5 million of NCL's 5.375% exchangeable senior notes due 2025 for newly issued 0.875% exchangeable senior notes due 2030 and an aggregate cash payment of about $12.4 million.

The company said it also launched a registered direct offering of 649,565 ordinary shares at $19.06 per share to the holders of the 2025 notes, with the proceeds to be used to make the cash payment.

The closing of the transaction is expected to occur on or about April 7, and is expected to reduce the company's outstanding shares on a fully diluted basis by approximately 15.5 million shares, the company said.

Price: 17.46, Change: -2.05, Percent Change: -10.49

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