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February 09, 2016 3:38 AM ET

Hotels, Restaurants and Leisure

Company Overview of NCL Corporation Ltd.

Company Overview

NCL Corporation Ltd. operates as a cruise line operator. The company was founded in 2013 and is based in Miami, Florida. NCL Corporation Ltd. operates as a subsidiary of Norwegian Cruise Line Holdings Ltd.

7665 Corporate Center Drive

Miami, FL 33126

United States

Founded in 2013

Phone:

305-436-4000

Fax:

305-436-4120

Key Executives for NCL Corporation Ltd.

Chief Executive Officer and President
Age: 60
Chief Financial Officer and Executive Vice President
Age: 51
Senior Vice President, General Counsel and Assistant Secretary
Age: 46
Senior Vice President of Consumer Research
Age: 55
Senior Vice President of Marketing
Age: 59
Compensation as of Fiscal Year 2015.

NCL Corporation Ltd. Key Developments

NCL Corporation Ltd. Issues $600.0 Million Aggregate Principal Amount of 4.625% Senior Unsecured Notes Due 2020

On November 10, 2015, NCL Corporation Ltd. (NCLC) issued $600.0 million aggregate principal amount of 4.625% senior unsecured notes due 2020, which mature on November 15, 2020, pursuant to an indenture, dated as of November 10, 2015, between NCLC and U.S. Bank National Association, as trustee. NCLC used a portion of the net proceeds from the offering of the 4.625% Notes to redeem and discharge its $300.0 million aggregate principal amount of outstanding 5.00% Senior Notes due 2018, and expects to use the remaining net proceeds for other general corporate purposes, which may include debt repayment and/or opportunistic repurchases of ordinary shares from time to time under Norwegian’s ongoing share repurchase program. NCLC will pay interest on the 4.625% Notes at 4.625% per annum, semiannually on May 15 and November 15 of each year, commencing on May 15, 2016, to holders of record at the close of business on the immediately preceding May 1 and November 1, respectively. NCLC may redeem the 4.625% Notes, in whole or part, at any time prior to November 15, 2017, at a price equal to 100% of the principal amount of the 4.625% Notes redeemed plus accrued and unpaid interest to, but not including, the redemption date and a 'make-whole premium.' NCLC may redeem the 4.625% Notes, in whole or in part, on or after November 15, 2017, at the redemption prices set in the Indenture. At any time (which may be more than once) on or prior to November 15, 2017, NCLC may choose to redeem up to 40% of the aggregate principal amount of the 4.625% Notes at a redemption price equal to 104.625% of the face amount thereof with an amount equal to the net proceeds of one or more equity offerings, so long as at least 60% of the aggregate principal amount of the 4.625% Notes issued remains outstanding following such redemption.

Norwegian Cruise Line Holdings and NCL Corporation Announce the Pricing of Upsized $600,000,000 Senior Notes Offering

Norwegian Cruise Line Holdings Ltd. announced that its subsidiary, NCL Corporation Ltd. entered into an agreement to sell $600.0 million aggregate principal amount of 4.625% senior unsecured notes due November 2020 in a private offering that is exempt from the registration requirements of the Securities Act of 1933, as amended. The size of the offering was increased from $500.0 million to $600.0 million. The notes are to be issued at par. The company expects to use the net proceeds from the offering, after deducting the initial purchasers' discount and estimated fees and expenses, to redeem and discharge its outstanding 5.00% Senior Notes due 2018 and for other general corporate purposes, which may include debt repayment and/or opportunistic repurchases of common stock from time to time under its ongoing share repurchase program.

NCL Corporation Ltd. Proposes to Issue $500 million Aggregate Principal Amount of Senior Unsecured Notes

Norwegian Cruise Line Holdings Ltd. announced that NCL Corporation Ltd. is proposing to issue $500.0 million aggregate principal amount of senior unsecured notes due 2020 in a private offering that is exempt from the registration requirements of the Securities Act of 1933, as amended. The company expects to use the net proceeds from the Offering, after deducting the initial purchasers' discount and estimated fees and expenses, to redeem and discharge its outstanding 5.00% Senior Notes due 2018 and for other general corporate purposes, which may include debt repayment and/or opportunistic repurchases of common stock from time to time under its ongoing share repurchase program.

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