Norwegian Cruise Line Holdings announced today that it is proposing to sell $500 million aggregate principal amount of its senior notes due 2026 in a private offering that is exempt from the registration requirements of the Securities Act of 1933, as amended (the “Securities Act”).
The company expects to use the net proceeds from the offering for general corporate purposes. The Notes will be guaranteed by certain subsidiaries on a senior unsecured basis.
The company’s fourth-quarter estimated cash burn is $175 million per month.
The cruise industry’s voluntary pause in the United States combined with the CDC’s “No Sail” order both now come to end on Oct. 31, meaning the possibility of ships sailing cruises from U.S. ports on Nov. 1 could happen under strict new health and safety protocols.
A number of cruise lines continue to sell early Nov. departures on their websites, as listed below, meaning they could be the first back in service with these ships currently scheduled to sail on Nov. 1.
These cruises continue to have published itineraries calling in various countries, some of which have banned cruise calls until 2021.
Potential Nov. 1 Cruise Departures:
Cruise Line: Norwegian Cruise Line Ship: Norwegian Bliss Capacity at 100%: 4,200 Homeport: Los Angeles Length: 5 nights Itinerary: Cabo San Lucas and Ensenada
Cruise Line: Norwegian Cruise Line Ship: Norwegian Encore Capacity at 100%: 4,200 Homeport: New York City Length: 7 nights Itinerary: King’s Wharf
Cruise Line: Norwegian Cruise Line Ship: Norwegian Sun Capacity at 100%: 2,002 Homeport: Port Canaveral Length: 10 nights Itinerary: Aruba, Curaçao, Bonaire, Puerto Plata and Great Stirrup Cay
Cruise Line: Royal Caribbean International Ship: Freedom of the Seas Capacity at 100%: 3,600 Homeport: San Juan Length: 7 nights Itinerary: Aruba, Curaçao, Bonaire and St. Maarten
Cruise Line: Royal Caribbean International Ship: Harmony of the Seas Capacity at 100%: 5,400 Homeport: Port Canaveral Length: 7 nights Itinerary: CocoCay, Roatán and Costa Maya
Cruise Line: Royal Caribbean International Ship: Liberty of the Seas Capacity at 100%: 3,600 Homeport: Galveston Length: 7 nights Itinerary: Cozumel, Grand Cayman and Falmouth
Potential Nov. 2 Cruise Departures:
Cruise Line: Carnival Cruise Line Ship: Carnival Liberty Capacity at 100%: 2,974 Homeport: Port Canaveral Length: 4 nights Itinerary: Freeport and Nassau
Cruise Line: Carnival Cruise Line Ship: Carnival Conquest Capacity at 100%: 2,974 Homeport: Miami Length: 4 nights Itinerary: Key West and Cozumel
The Norwegian Joy in Vancouver last year. Photo Credit: Tom Stieghorst
Norwegian Cruise Line Holdings has extended its suspension of cruising for nearly all voyages embarking between Aug. 1 and Sept. 30 for all three cruise brands (Norwegian Cruise Line, Oceania Cruises and Regent Seven Seas Cruises).
However, Alaska cruises departing from Seattle in September will sail.
NCLH is also cancelling Canada/New England cruises and Pacific Coast cruises in October due to port restrictions in Canada. The Pacific Coast sailings were scheduled to depart from Vancouver.
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