NCL Corp (NCLC), a subsidiary of Norwegian Cruise Line Holdings, has agreed to sell $565 mill aggregate principal amount of 3.625% senior notes due 2024.
These will be made up of a private offering that will be exempt from the registration requirements of the US Securities Act of 1933, as amended. The Notes are to be issued at par.
NCLC intends to use the offering’s net proceeds, after deducting the initial purchasers’ discount and estimated fees and expenses, together with cash on hand, to redeem all $565 mill aggregate principal amount of its outstanding 4.75% senior notes, due 2021, including accrued and unpaid interest, in accordance with the indenture for the senior notes and to pay related transaction fees and expenses.
The notes are being offered only to qualified institutional buyers in reliance on Rule 144A under the US Securities Act, and outside the US, only to non-US investors pursuant to Regulation S.