Norwegian Cruise Line Holdings announced it successfully secured over USD 2 billion of additional liquidity in response to impacts of the COVID-19 global pandemic on the company and the cruise industry, including the temporary suspension of voyages, and to safeguard against a further downside scenario.
The company announced the launch of a series of capital markets transactions, led by Goldman Sachs, to raise approximately USD 2 billion. The transaction has since been upsized to gross proceeds of USD 2.225 billion (USD 2.4 billion if the underwriters exercise their full overallotment options) due to significant oversubscription and demand across all three offerings.
Contingent on completion of the transactions, it expects to have approximately USD 3.5 billion of liquidity. This significantly strengthens its financial position and liquidity runway and it now expects to be positioned to withstand well over 12 months of voyage suspensions in a potential downside scenario.