Kirkland & Ellis Advised Norwegian Cruise Line On Over $3.5 Billion Capital Markets Transactions

Kirkland & Ellis advised Norwegian Cruise Line on over $3.5 billion capital markets transactions

Kirkland & Ellis advised Norwegian Cruise Line Holdings Ltd. (NCLH) on multiple capital markets transactions to strengthen its capital structure by removing secured notes, extending its maturity profile, and reducing potential dilution associated with equity-linked debt.

Kirkland advised on an offering of USD 1.2 billion 5.875% senior notes due 2031 and USD 850 million 6.250% senior notes due 2033, along with a concurrent tender offer to repurchase outstanding 5.875% senior notes due 2026 and 5.875% senior secured notes due 2027. The proceeds were used to fund the tender offer, redeem notes not accepted for purchase, and redeem all outstanding 8.125% senior secured notes due 2029. In addition, the firm advised on an offering of USD 1.407 billion 0.750% exchangeable senior notes due 2030 and a USD 81 million registered direct offering of ordinary shares, with proceeds utilised to repurchase outstanding exchangeable notes due 2027.

The Kirkland team included capital markets lawyers Zoey Hitzert (Partner), Sophia Hudson (Partner), Soo Kyung Chae (Associate), Lune Klappe (Associate), Mary Aertker (Associate), Richard Hong (Associate), Michael Scheinthal (Associate), and Camille Ciolino (Associate); and tax lawyers Ben Schreiner (Partner) and Afshin Khan (Associate).

If you have a news or deal publication or would like to collaborate on content, columns, or article publications, connect with the Legal Era News Network Team and email us at info@legalera.in or call us on +91 8879634922.