The company said its subsidiary NCLC agreed to exchange $285,425,000 in principal amount of its 5.375% Exchangeable Senior Notes due 2025 for new 0.875% Exchangeable Senior Notes due 2030 in the same principal amount, plus a cash payment of $51,624,820, with accrued and unpaid interest paid separately.

1. 01

   The company said its subsidiary NCLC agreed to exchange $285,425,000 in principal amount of its 5.375% Exchangeable Senior Notes due 2025 for new 0.875% Exchangeable Senior Notes due 2030 in the same principal amount, plus a cash payment of $51,624,820, with accrued and unpaid interest paid separately.

2. 02

   NCL Holdings said it will issue 2,708,533 ordinary shares to Holders in a registered direct offering at $19.06 per share. The company said it expects to use the net proceeds and cash on hand to make the Cash Payment.

3. 03

   The company said the initial exchange rate for the 2030 Notes is 38.1570 ordinary shares per $1,000 of principal, equal to an initial exchange price of about $26.21, a premium of about 37.5% to the Equity Offering price.

4. 04

   The company said the transaction is expected to close on or about April 7, 2025, and that about $164,565,000 in principal of the 2025 Notes will remain outstanding after the exchange. It also said the transaction will be neutral to its leverage and is expected to reduce its fully diluted shares outstanding by about 12.5 million shares.

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AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

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