Norwegian Cruise Line prices share offering at $24.53 per share

Norwegian Cruise Line Holdings Ltd. (NYSE: NCLH) announced the pricing of 3,313,868 ordinary shares at $24.53 per share in a registered direct offering to certain holders of exchangeable senior notes.

The equity offering is expected to close on September 11, 2025, subject to customary closing conditions. The company will use proceeds from this offering, along with proceeds from a separate private offering of 0.750% exchangeable senior notes due 2030 by its subsidiary NCL Corporation Ltd., to repurchase existing debt securities.

The company plans to repurchase approximately $958.0 million in aggregate principal amount of NCLC's 1.125% Exchangeable Senior Notes due 2027 for approximately $1,009.5 million and approximately $449.0 million in aggregate principal amount of NCLC's 2.50% Exchangeable Senior Notes due 2027 for approximately $480.5 million, plus accrued interest.

Following the repurchases, approximately $192.0 million in aggregate principal amount of the 1.125% notes and approximately $24.2 million in aggregate principal amount of the 2.50% notes will remain outstanding. The transactions are expected to reduce the company's shares outstanding on a fully diluted basis by approximately 38.1 million shares.

J.P. Morgan Securities LLC is serving as the exclusive placement agent for the equity offering. The offering is being conducted under an automatic shelf registration statement filed with the Securities and Exchange Commission on November 8, 2023.

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