NCLH prices private offering of $790m senior secured notes

The notes and related guarantees will be secured by first-priority interests in 14 ships that also secure NCLH's senior secured credit facility and 8.375% senior secured notes due 2028. The notes will be guaranteed by subsidiaries that own the ships.

Use of proceeds

The company intends to use the proceeds, together with cash on hand, to repay term loans outstanding under its senior secured credit facility.

The offering is expected to close Oct. 18 and its completion is conditioned on amendments to NCLH's senior secured credit facility.

The notes are being offered only to qualified institutional buyers outside the US.