Proceeds would be used to buy back a portion of the company's 6% exchangeable senior notes due 2024 from a limited number of current notes holders in privately negotiated agreements. The remaining proceeds would be used for general corporate purposes.
NCLH intends to grant the initial purchasers of the exchangeable notes due 2027 an option to purchase up to an additional $120m of notes during a 13-day period beginning when the notes are issued.
The exchangeable notes are being offered only to qualified institutional buyers outside the US.
Plus a registered direct offfering
At the same time, the company is commencing a registered direct offering of ordinary shares to certain holders of its 6% exchangeable senior notes due 2024.
Proceeds would be used to redeem up to $236.25m of NCLH's 12.25% senior secured notes due 2024 and up to $262.5m of the company's 10.25% senior secured notes due 2026.