Walkers is pleased to announce that it has acted as offshore counsel to
Norwegian Cruise Line Holdings Ltd ("Norwegian") on three separate significant financing transactions, equating to
$2 billion, which were completed during May.
Most recently, Walkers acted as joint
Bermuda, BVI and
Cayman Islands counsel to
NCL Corporation Ltd ("NCLC"), a subsidiary of Norwegian, as it closed its private offering of
$675 million aggregate principal amount of its 12.25% senior secured notes due 2024 (the "Secured Notes") which closed on
14 May 2020.
As well as advising NCLC as issuer of the Secured Notes, the Walkers teams advised on the creation of security interests over, among other things, shares in certain subsidiary guarantors, two of NCLC's vessels, material intellectual property and two islands used in the operations of the cruise business.
Walkers was led by partners
Adam Bathgate (
Bermuda) and
Matthew Cowman (BVI) with assistance from senior counsels
Omonike Robinson-Pickering (BVI) and
Sarah Humpleby (Cayman) along with associates
Korin Knights (
Bermuda),
Brittney Smith (BVI) and
Liam Woodward (Cayman).
Secondly, Walkers acted as
Bermuda counsel to NCLC as it closed its private offering of
$862.5 million aggregate principal amount of its 6.00% exchangeable senior notes due 2024 (the "Exchangeable Notes") on
11 May 2020.
Also closing on
11 May 2020, Walkers acted as
Bermuda counsel to Norwegian as on its underwritten public offering of 41,818,181 ordinary shares of the Company (the "Offering") at a price to the public of
$11.00 per share.
Goldman Sachs & Co. LLC,
Barclays Capital Inc.,
Citigroup Global Markets Inc.,
J.P. Morgan Securities LLC,
Mizuho Securities USA LLC,
Credit Agricole Securities (USA) Inc. and
UBS Securities LLC acted as joint book-running managers for the Offering.
The Walkers team for the issue of the Exchangeable Notes and the Offering was led by partners
Jonathan Betts and
Natalie Neto with assistance from senior associate
Nathalie West.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
Walkers  
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George Town
Grand Cayman
KY1-9001
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Tel: 9490100
Fax: 9497886
E-mail: info@walkersglobal.com
URL: www.walkersglobal.com
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