NCL Corporation Ltd. Announces Proposed Offerings of Senior Notes and Exchangeable Notes

Core Viewpoint - NCL Corporation Ltd. is proposing to raise a total of $3.25 billion through the issuance of senior notes and exchangeable senior notes to fund debt redemption and other financial obligations [1][3]. Group 1: Unsecured Notes Offering - NCL Corporation Ltd. plans to sell $1,025 million of senior notes due 2031 and $1,025 million of senior notes due 2033 in a private offering [1]. - The net proceeds from the Unsecured Notes Offering will be used to fund a concurrent tender offer for its 5.875% senior notes due 2026 and 2027, redeem the remaining 2026 and 2027 Notes, and redeem all of its 8.125% senior secured notes due 2029 [2]. Group 2: Exchangeable Notes Offering - NCL Corporation Ltd. is also proposing to sell $1,200 million of exchangeable senior notes due 2030 in a separate private offering [3]. - The initial purchasers of the Exchangeable Notes will have an option to purchase an additional $120 million during a specified period [4]. - The net proceeds from the Exchangeable Notes Offering will be used to repurchase a portion of its 1.125% and 2.50% Exchangeable Senior Notes due 2027 [5]. Group 3: Regulatory and Offering Details - Both the Unsecured Notes and Exchangeable Notes are being offered only to qualified institutional buyers and are exempt from the registration requirements of the Securities Act [6]. - The offerings are not conditioned on the consummation of each other, allowing for flexibility in execution [2][5]. Group 4: Company Overview - Norwegian Cruise Line Holdings Ltd. operates multiple cruise brands and has a fleet of 34 ships, with plans to add 13 more ships by 2036, increasing its capacity significantly [8].