Shares closed at $15.61 Thursday on the New York Stock Exchange. The stock has traded in a range of $7.03 and $59.78 over the past 52 weeks.
Private notes offerings upsized to $750m and $400m
The company also priced its $750m 10.25% senior secured notes due 2026 and its $400m 5.375% exchangeable senior notes due 2025 — these were upsized from the previously announced $675m and $250m respectively. Both are being offered in private sales to qualified institutional investors outside the US.
Stock sale underwriters' option
NCLH granted the underwriters of its stock sale an option to purchase up to 2.5m additional ordinary shares. The option must be exercised by Aug. 17.
JP Morgan, Citigroup, Goldman Sachs & Co. LLC , Barclays, Mizuho Securities and UBS Investment Bank are acting as joint book-running managers.
The offering is expected to close July 21. NCLH plans to use the net proceeds for general corporate purposes.
Upsized notes offerings and $60m option
The $750m secured notes and certain guarantees are secured by a first-priority interest in one of the company's ships.
NCLH has granted the initial purchasers of the $400m exchangeable notes an option to purchase up to an additional $60m in exchangeable notes by Aug. 2.
The exchangeable notes will be general senior unsecured obligations guaranteed by NCLH, and will be convertible at the holder’s option on the first business day immediately preceding the maturity date.
NCLH expects to use the net proceeds from both notes offerings to repay its $675m senior secured revolving credit facility and any related transaction fees and expenses, with the remainder of the net proceeds to be used for general corporate purposes.
The offerings of the secured notes and exchangeable notes are expected to close July 21.
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