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Viking seeks holders' OK to amend terms for $250m notes due 2022

Viking seeks holders' OK to amend terms for $250m notes due 2022

Viking Cruises is seeking consents from the holders of its 8.5% senior notes due 2022 to amend the terms in order to give the company 'financial and operating flexibility.' The outstanding principal amount of the notes is $250m.

Adoption of the proposed amendments requires the consent of holders of at least a majority of the outstanding aggregate principal amount of the notes voting as a single class.

The amendments are being sent to holders but were not outlined in a release.

If the proposed amendments are approved, the amendments will be binding on all holders of the notes, including those who did not deliver their consent. But only holders delivering their consent will receive a consent payment of $10 per $1,000 principal amount of the notes.

The consent solicitation will expire at 5 p.m. New York City time on July 15.

Wells Fargo Securities of Charlotte, N.C., is the solicitation agent.

Viking operates a large, fast-growing river fleet and is scheduled to introduce the first of three planned ocean-going vessels, Viking Star, in May 2015.

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