NCLH hires Goldman Sachs as financing options are explored

Posted on 20 April, 2020 by Spacejunkie2

Goldman Sachs applies for Tokyo banking licence | Financial Times

Norwegian Cruise Line Holdings has reportedly hired experts at investment bank Goldman Sachs to explore financing options on its behalf.

The parent of Norwegian Cruise Line, Regent Seven Seas Cruises and Oceania Cruises has tasked Goldman Sachs will looking into options which could include the sale of a stake in the company, according to a report from Reuters.

It comes amid a global pause on cruise operations due to the coronavirus outbreak.

The report suggests NCLH is considering a stake sale known as private investment in public equity (PIPE), with the company said to be in talks with several private equity firms.

Goldman Sachs declined to comment and the Reuters report said NCLH did not immediately respond to a request for comment.

It comes after Carnival Corporation raised $6.25 billion by issuing new debt and equity to investors. It made a share offering to raise $3 billion and said it would issue $1.75 billion in senior convertible notes. It also commenced an underwritten public offering of $1.25 billion of shares of common stock and underwriters were being given an option purchase of up to $187.5 million additional shares.

NCLH to report first quarter results May 9

Earlier this month it was announced that Saudi Arabia’s sovereign wealth fund had acquired a minority stake in Carnival Corp. The Public Investment Fund based in Riyadh disclosed that it had taken an 8.2% shareholding in the world’s largest cruise company, estimated to be valued at around $370 million.

Royal Caribbean Cruises – parent of Royal Caribbean, Azamara, Celebrity Cruises and Silversea, also announced a $2.2 billion loan last month as it looked to shore up cash flow amid the pandemic.

On April 9, the US Centers for Disease Control and Prevention extended its ‘no sail order’ for all cruise ships for up to 100 days.

Carnival Corp. Announces Pricing of 62,500,000 Shares of Common Stock

Posted on 4 April, 2020 by Spacejunkie2

Carnival Corporation today announced that it has priced its underwritten public offering of 62,500,000 shares of common stock of the Corporation at a price of $8.00 per share.

The aggregate amount of shares of common stock to be issued in the offering was decreased to approximately $500 million from the previously announced $1.25 billion.

The offering is expected to close on April 6, 2020, subject to customary closing conditions. The Corporation has granted the underwriters an option to purchase up to 9,375,000 of additional shares, which option must be exercised on or before May 1, 2020.

The Corporation expects to use the net proceeds from the offering for general corporate purposes.

The Corporation also announced by a separate press release that it has priced its previously announced private offerings to eligible purchasers of $4 billion aggregate principal amount of 11.500% first-priority senior secured notes due 2023 and $1.75 billion aggregate principal amount of 5.75% senior convertible notes due 2023.

Norwegian Cruise Line boss nets $1.3m in the share sale

Posted on 19 August, 2019 by Spacejunkie2

Image result for andy stewart nCL

Norwegian Cruise Line boss Andy Stuart netted $1.3 million from the sale of shares.

He sold 25,000 shares in parent company Norwegian Cruise Line Holdings in two tranches last week, according to a filing with the US Securities and Exchange Commission.

The sale at $50 per share came after the company reported record second-quarter financial results with earnings of $240.2 million for the three months to June 30.

The lift in profits came despite the impact of the abrupt US government ban on cruise ships calling into Cuba and a technical problem with the ship Norwegian Pearl which forced one cruise to be amended and another to be canceled.

Company president and CEO Frank Del Rio said at the time: “The underlying fundamentals of our business remain strong across all core markets, and we continue to expect record financial results in 2019, despite the impact from the change in federal regulations which resulted in the cessation of premium-priced Cuba sailings.”

NCLH has a market capitalization of $10.88 billion and controls NCL alongside Oceania and Regent Seven Seas Cruises.