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Viking completes $275m notes add-on

Viking completes $275m notes add-on

Viking Cruises completed a $275m add-on to its 8.5% senior notes due 2022, pricing at a 6.398% yield, according to a Wells Fargo Securities note.

The proceeds will be used to fund a $115m investment in a vessel and redeem $175m in 8.625% notes due 2018.

Standard & Poor's Ratings Agency revised its recovery rating for Viking to 4 from 3, and its outlook to 'stable' from 'negative,' Wells Fargo said.

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